NNPC filling stations to sell petrol at landing cost to cushion global oil price shocks — Presidency
The Federal Government has announced that the Nigerian National Petroleum Company Limited (NNPC) has agreed to forgo its petrol retail profit margin and sell the product at cost as part of broader efforts to cushion the impact of global oil price shocks on Nigerians, particularly vulnerable households.
Although higher crude oil prices could boost government revenue, increases in petrol, diesel and aviation fuel prices have raised transportation, production and logistics costs for households and businesses.
Forward crude sales to local refineries The government also announced plans to sell crude oil to domestic refineries through forward-sale arrangements as part of efforts to reduce the impact of international market fluctuations on domestic fuel prices.
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