The shortage sparked long queues across Nigeria, disrupting commercial activities in cities and towns and driving transportation costs sharply higher.
By 3 September, the pump price at most of the NNPCL’s outlets retailing petrol had climbed 45.
4 per cent to N897 per litre.
“The MPC noted that even though headline inflation trended downwards due to a moderation in food inflation, core inflation has remained elevated, driven primarily by rising energy prices.
Within days, the retail price of petrol spiked to N1,030 from N998 in some NNPCL service outlets in Lagos.
The biggest 20 assets by production accounted for 90 per cent of production and 80 per cent of emissions.
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