The Federal Government is set to partially deregulate the oil sector as petrol will be sold for as high as N130 per litre. This deregulation will allow for major and independent oil marketers to sell petrol at prices convenient for them but will still regulate the prices of petrol sold at NNPC filling stations due to the ease of access, Vanguard reports.
FG is also said to be looking at privatizing of the refineries with the next 12 months, said the Minister of State for Petroleum Resources, Mr Ibe Kachikwu
It is projected that with the current exchange rate and price of crude oil, marketers would sell between N120 and N130 per litre which still considered as being too cheap.
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