Naira depreciation: Why petrol price may increase as new marketers begin import

  • New oil marketers’ petrol cargoes will arrive in Nigeria by July as NNPC reduces importation.
  • The announcement was made by the Chief Executive of NMDPRA, Farouk Ahmed
  • He said the agency had granted new licenses to importers to bring petrol.

On Wednesday, June 14, 2023, the Nigerian government confirmed that other marketers have joined in the import of petrol following the removal of the petrol subsidy.

The federal government revealed that about three mega oil marketers expect petrol cargoes in July, while others have asked for licences to import the product.