Price of petrol may to rise further as international market data gathered by The PUNCH revealed that the commodity has gained 20 per cent
A weak currency and inflation had caused a rise in the dollar against the naira to as much as N820/$1 recently, before dropping to N776/$1 as of Saturday.
In Nigeria, petrol price had risen from between N198/N200 per litre, to around N617 per litre since deregulation of the downstream sector by President Bola Tinubu on May 29. Due to lack of functional refineries, Nigeria still imports its petrol despite being an oil producing country.All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from PUNCH.
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