Nigeria moves to cap petrol price at ₦1,350 per litre
Part of composite article Nigeria Slashes Petrol Price to N1,350 Per Litre as Fitch Upgrades Economic Outlook View full article →
The Federal Government is negotiating a ₦1,350 per litre ceiling on the ex-gantry or landing cost of petrol, the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, has said.
The ex-gantry cost is the price of petrol as it leaves the depot, before transport and other charges are added. The landing cost is the total expense of bringing the fuel into the country.
The move aims to limit price volatility as global crude oil and refined petroleum product prices rise.