Fuel price relief not return to subsidy regime – CPPE
The Centre for the Promotion of Private Enterprise (CPPE) has said the Nigerian Government’s fuel price relief initiative through the Nigerian National Petroleum Company Limited (NNPC) does not amount to a reversal of the fuel subsidy removal policy.
The Nigerian Government recently announced a fuel price relief initiative, requiring the NNPC to forego its petrol retail profit margin and sell the product at landing cost to cushion the impact of rising global energy prices on Nigerians.
He added that the initiative did not reinstate a government-administered national petrol price, impose a general subsidy obligation on private operators or dismantle the market-based petroleum pricing framework.
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