FG Set to Fully Deregulate the Downstream Sector

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FG Set to Fully Deregulate the Downstream Sector

By Correspondent

Except things change in the last minute, the federal government will  in a few days’ time introduce policy changes signaling the full deregulation of the downstream sector of the Nigerian petroleum industry the Nigerian news platform, PREMIUM TIMES, reports.Nigerians may have to brace up for a minimum of 27.17 percent hike in fuel price nationwide, the officials said.The policy, they say, is likely to push the pump price of petrol to about N110 per litre at NNPC-owned filling stations and higher at other independent outlets.Amid fears of a possible backlash reminiscent of the reaction by Nigerians in January 2012 when former President Goodluck Jonathan attempted to introduce a similar measure it has not been established that any formal announcement will be made. 

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