Petrol prices in Nigeria will henceforth fluctuate in line with the global price of crude oil, according to the petroleum products pricing regulatory agency (PPPRA)
The implication of the new pricing policy is that prices of petrol will be adjusted from time to time to reflect the market realities.
Executive secretary of the agency, Abdulkadir Saidu, who gives this indication says the pricing system will be extended to kerosene, diesel and other petroleum products.
Saidu explains that the agency is in talks with the central bank of Nigeria to determine the exchange rate for selling foreign exchange to major marketers to resume importation of the products.
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