Currency deregulation and the search for the true value of the naira

Currency deregulation and the search for the true value of the naira

Recently, the Nigerian National Petroleum Corporation (NNPC) said in a press release that there are no plans to increase the ex-depot price of the Premium Motor Spirit (PMS) in March 2021.

Since the rise in the world price of crude oil, the retail price of gasoline at the pump is expected to rise following an increase in the cost of offloading gasoline and claims of total deregulation of the sector by the government.

In September 2020, Minister of State for Petroleum Resources Timipre Sylva announced that the government would take over in regulating the price of gasoline, noting that market forces and the price of crude oil would continue to determine the product cost.

So far, in 2021, crude oil prices have continued to increase, implying an increase in the cost of landing …

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