Motorists in Lagos and Ogun states are going through hard times to buy petrol as many stations yesterday shut down operations, heightening speculation of possible hike in pump price.
LEADERSHIP had yesterday reported that supplies had dropped significantly as the Nigerian National Petroleum Company Limited, NNPCL, which currently is the sole importer of products, may have reverted to the crude swap initiative to sustain distribution of petrol that had since May this year been disrupted after President Bola Tinubu announced the removal of subsidy.
Recall that in furtherance of the deregulation of the downstream sector of the Nigerian oil and gas industry, the Nigerian Midstream and Downstream Petroleum Regulatory Authority had announced that it had issued petrol import licences to 56 oil marketing companies.
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