The latest move towards a total deregulation of petrol pricing and removal of subsidy by the Bola Tinubu administration which has led to another upward price adjustment by the Nigerian National Petroleum Company Limited portends positive and negative impacts on the sustainability of the country’s economy, as well as the survival of the long-suffering citizens.
ast Wednesday, the Nigerian National Petroleum Company Limited (NNPC) ceased to be the exclusive off-taker of petrol from the 650,000 barrels per day Dangote Refinery and as a middleman between the Aliko Dangote-owned refinery and petroleum marketing companies. The NNPC has been the sole importer and supplier of petrol into the country, a responsibility handed to it by Nigeria’s extant laws as the nation’s last resort supplier.
