Petrol marketers have called for urgent intervention by the federal government to arrest the fast increase in the pump price of diesel to prevent imminent
Korie lamented that the rapidly-rising diesel price was evidently causing hardships in haulage transportation and commuting alike.
Experts, however, say the hike in diesel price may stem from the rise in crude oil price, which currently stands at $95 per barrel. Another factor is the naira slump, which is inching towards N1,000/$1 in the parallel exchange rate market. Total filling station at Ikorodu road also increased its price from N980 to N1,014 per litre of diesel, yesterday.
“Consequently, in addition to the recent exit of three executive vice presidents, other management staff with less than 15 months to statutory retirement will be exiting the company effective 19th September 2023. This strategic restructuring is a result of pivotal recommendations put forth by the Energy and Natural Resources sub-committee of the Bola Ahmed Tinubu Advisory Council back in June 2023.
These comprehensive recommendations reflect a resolute effort to fortify the NNPC, facilitating its alignment with statutory mandates and transforming it into a more efficient and profit-oriented entity.Note also that the sub-committee proposed a generation of a substantial $17.4 billion in funds, primarily through well-structured NNPC sell-downs.
These twin strategies, meticulously planned, are poised to realign NNPCL’s financial structure, injecting agility and a more lucrative trajectory. The group chief finance officer of the firm is therefore expected to bear additional tasks of ensuring the liquidity of the group as well as the efficient allocation of capital to its businesses based on returns and business relations.
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