The Nigerian National Petroleum Corporation (NNPC) has explained that concerted efforts by the Corporation and some Federal agencies to combat the menace of smuggling of petroleum products have been largely hampered by existing arbitrage fueled by the prevailing huge price differentials in pump price of petrol in Nigeria and neighbouring countries. In a presentation at an interactive session by the Joint Senate Committee on the 2022-2024 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP), Group Managing Director of the NNPC, Mallam Mele Kyari, said with a price difference…
Read MoreHOW PRICE DIFFERENTIALS IS FUELING PETROL SMUGGLING—NNPC
