Prices were updated nationwide from 557 naira per litre across fuel stations operated by the state-owned Nigerian National Petroleum Co. Ltd. , according to a circular seen by Reuters. NNPC did not immediately respond to calls seeking comments.
MOMAN, which groups Nigeria's six largest fuel retailers including the NNPC, accounts for about a third of the petrol market. Since ending the subsidy, 56 private firms have been licensed to import petrol, with 10 of them due to make supplies in the third quarter, ending NNPC's import monopoly. NNPC had been the sole importer of petrol using crude swap contracts.
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