- The new landing cost of petrol is now estimated to have risen above N1,400 per litre as a result of naira depreciation
- Nigerian currency at the official and unofficial market exchanges at above N1,600 against the US dollar
- This means the Nigerian government is working harder to keep the fuel pump price at N600 per litre
Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
It could be only a matter of time before the federal government decides to revisit its decision to cap Premium Motor Spirit (PMS), popularly called petrol prices, around N600 per litre, given the continued depreciation of the Naira and rising crude oil prices.
