NMDPRA speaks on petrol price rise, regulatory action
Nigeria exposed to global oil shock The latest increase followed an N85 adjustment in the gantry price of petrol by the Dangote Petroleum Refinery, from N1,265 to N1,350 per litre, amid a surge in international crude oil prices.
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has acknowledged the financial strain caused by the recent increase in the pump price of Premium Motor Spirit (PMS), commonly known as petrol.
Although Nigeria is a major crude oil producer, the country remains exposed to developments in the international oil market.
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