NMDPRA fuel price cap could worsen crisis and deter investors, Osifo says
Translated from English and summarized by DistantNews. Read the original for the full story.
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- Festus Osifo warned that the planned NMDPRA price cap could worsen Nigeria’s fuel crisis.
- He said the measure could also drive investors away from the downstream oil sector.
A planned cap on petroleum-product prices could worsen Nigeria’s fuel crisis and discourage investment in the downstream oil sector, Festus Osifo said.
Osifo, a former president of the Petroleum and Natural Gas Senior Staff Association of Nigeria, criticized the proposed measure by the Nigerian Midstream and Downstream Petroleum Regulatory Authority, known as NMDPRA.
He warned that the policy could further strain fuel supplies while making the downstream market less attractive to investors.
About this summary
Originally published by Vanguard in English. Translated, summarized, and contextualized automatically by DistantNews, with a note on how the source frames the story. Not individually reviewed before publishing. How this works.
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