Index to Nigerian Newspapers

Nigeria's petroleum industry regulators and operators have formally effected a subsidy withdrawal, causing retail prices to increase by about 170 per cent to N500 per litre. The new price template took effect after a deadlock in Abuja. Borno and Yobe states have the highest petrol prices, while Lagos has the least. Depots sell the product at N470 per litre, with about N300 per litre going to stakeholders in the value chain. NNPC Limited has adjusted pump prices at its retail stations to N537 per litre, reflecting market dynamics. The company is committed to ensuring a ceaseless supply of products and apologizes for any inconvenience caused. Independent marketers and major marketers dispensed at N540 per litre. IPMAN Public Relations Officer Chinedu Ukadike said the group is ready for deregulation and is ready for competition.