By Udesinanna Stephen
The Nigerian National Petroleum Company, NNPC Limited, has revealed that it longer determines the price of petrol, but the Market Forces do.
The National Oil Company confirmed this on its official Twitter handle @nnpclimited.
This is coming few days after the Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA, revealed that it had granted licenses to three oil dealers to commence the importation of petrol from July 2023, which could lead to competition among market forces.
“Market Forces now determine petrol prices…With subsidy gone, our economy will grow.” NNPC writes.
Also, NNPC said that it is no more the only importer of petrol, “NNPC is no longer the Sole Supplier Of Petrol.”
