He added that the situation worsened after the removal of fuel subsidies by the government in mid-2023. The fluctuating exchange rates led to a gap between the naira value and the cost of providing PMS, further complicating the pricing model.
According to experts, the ongoing price war between Dangote Refinery and NNPC Ltd. has left Nigerians in a state of uncertainty, with no clear resolution in sight. As fuel prices soar across the country, the impact on everyday life is expected to deepen, particularly for industries dependent on fuel, such as transportation, agriculture, and manufacturing.
The anticipated probe by the National Assembly, analysts opine, may provide some answers, but for now, Nigerians must brace themselves for further increases in the cost of petrol, while the broader implications of the Dangote-NNPC Ltd. standoff continue to unfold.
Credit: The Sun
