Although the latest petrol pump price hike by the Nigerian National Petroleum Company (NNPC) Limited is seen as a step towards the full deregulation of the downstream sector, the huge subsidy payments and its sole-distributor role have become a significant burden on the national oil firm, insiders have told TheCable. The Dangote refinery officially began petrol production on September 3 with plans to sell only to the NNPC. After more than a week, petrol lifting from the refinery began on September 15, arriving at the pump stands to the delight of Nigerians who desire an end to Nigeria’s chronic petrol importation — with eyes on cheaper pump prices. An insider said the delay in lifting petrol — also called premium motor spirit (PMS) — owed to logistics challenges, noting that the supply from the refinery also fell below expectations . “ While the PMS discharge from the station may have sliced off a portion of the country’s fuel import requirements, it was still a far cry f
