) says it will no longer fix prices or release templates for Premium Motor Spirit , popularly called petrol.
The News Agency of Nigeria reports that the development was a sequel to the removal of subsidy on petrol. “We make sure we guide the operations of everyone in the sector whether at the depot or wherever the product is but we will not put a cap to say this is what the price must be,” he said. “Of course, we also know how much shipping, offshore, ex-depot and ex-pump are. But we cannot tell them to sell at a price because the market is deregulated,” he added.
Mr Ahmed further disclosed that marketers are now free to source their foreign exchange anywhere around the world to import petroleum products and recover their costs without impediments.
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