MARKETERS PUSH N800/L PETROL, SEEK IMPORT LICENCES

Petroleum marketers have proposed a new price of N800 per litre for petrol amid ongoing supply challenges and have renewed calls for the issuance of import licences to private companies.

The push comes as the landing cost of imported fuel remains high due to exchange rate pressures and global crude oil prices. Marketers argue that allowing more players to import would increase supply and potentially stabilise prices.

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) is yet to respond officially to the request for additional licences.

The situation has continued to generate public concern, with many Nigerians struggling with the high cost of transportation and goods.

Stakeholders have urged the government to intervene decisively to prevent further hardship while ensuring a sustainable supply of petroleum products.