Breaking: Fuel price to increase again as NNPC set to quit…

…as middleman in Dangote Refinery petrol purchase

This means NNPC will no longer be the sole off-taker, and marketers can now negotiate prices directly with Dangote Refinery.

With NNPC no longer covering the differential between Dangote’s selling price and the price to marketers, subsidies will cease to exist. Marketers will now buy directly from Dangote and sell at cost price, adding their own differential, which may lead to a hike in the product’s price.

Also, marketers can now source products from anywhere, not just Dangote, promoting competition and potentially stabilising supply chains.

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