//
  • info@ocmlng.com
  • 0201-2914775

Petrol price surge sparks calls for crude subsidy

Home > market news
Financial News

Petrol price surge sparks calls for crude subsidy

02 Feb, 2026

Petroleum product marketers have argued that the only way to shield Nigerians from the shock of a sudden surge in petrol prices is for the Federal Government to sell crude oil to the Dangote Petroleum Refinery and other local refineries at subsidised rates. The marketers, therefore, urged the Federal Government to sell crude oil to domestic refiners with a subsidy to prevent a sharp increase in petrol prices. Specifically, the Independent Petroleum Marketers Association of Nigeria appealed to President Bola Tinubu to consider subsidising crude prices while also extending the naira-for-crude deal to other modular refineries operating in the country................................….......READ MORE