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Diesel price remains N1,400 per litre in Nigeria

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Nigeria’s Automotive Gas Oil (Diesel) price remains N1,400 per litre from N700 per litre in 2022.

Chief Executive of Midstream and Downstream Petroleum Regulatory Authority, NMDPRA, Farouk Ahmed, disclosed this in a recent meeting with the Nigerian Association of Road Transport Owners.

Ahmed said this when he told NARTO that the regulator would not embark on enforcing freight price increases.

“When we did the last freight increase in 2022, the diesel price was N700 per litre, but now it is N1400”, he said.

“As a regulator, we said we are not going to enforce pegging price increases but that they should negotiate with the marketers. The marketers were a bit reluctant, forcing NARTO to down tools,” he said.

Pmnews.ng recalls that NARTO suspended its planned nationwide strike after an agreement was reached over its members’ demands.

Othman Yusuf, the National President of NARTO, who directed its members to resume work immediately, said: “It is not related to the pump price.

“The pump price remains the way it has been. Our agitation is strictly on freight rate. There has been some improvement, even though it is not what we expected.

“Going forward, we will continue to engage with the marketing companies based on the economic realities.”

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