Wednesday, August 17, 2022
  • Login
Upgrade
The Southern African Times
  • Home
  • Southern Africa
  • Global
  • Business
    • African Start ups
    • African Continental Free Trade Area
  • Tech
  • Opinion
  • Sports
  • Lifestyle
    • Health
    • Culture
    • Food and Drink
    • Entertainment
  • SAT Jobs
No Result
View All Result
  • Home
  • Southern Africa
  • Global
  • Business
    • African Start ups
    • African Continental Free Trade Area
  • Tech
  • Opinion
  • Sports
  • Lifestyle
    • Health
    • Culture
    • Food and Drink
    • Entertainment
  • SAT Jobs
No Result
View All Result
The Southern African Times
No Result
View All Result
Home Business

Nigeria to lower gasoline pump prices to 130 naira -sources

by SAT Reporter
March 19, 2020
in Business
0
Nigeria to lower gasoline pump prices to 130 naira -sources
0
VIEWS

Nigeria will lower government-capped gasoline pump prices to 130 naira a litre, from 145 naira, four sources told Reuters on Wednesday. 

State oil company NNPC imports nearly all the gasoline in Nigeria, Africa’s largest economy, because of price caps that mean marketers would lose money if they imported themselves. 

President Muhammadu Buhari approved the lower price during a cabinet meeting. The government did not immediately give a reason for the decision, though benchmark crude prices have tumbled in the face of the coronavirus pandemic.

Prices for fuels such as gasoline have also collapsed because of a significant contraction in global demand. 

The price cap typically costs the government millions because prices fluctuate regularly on the international market and rarely stay at the capped level. 

The World Bank estimated the price caps cost the government 294 billion naira ($960.8 million), or nearly 0.2% of annual GDP, in the first half of 2019. 

Nigeria’s Petroleum Products Pricing Regulatory Agency (PPPRA) pegged ex-depot prices at 125.63 naira a litre as of March 13.

Previous Post

Facts on What Africa is Doing to fight The Coronavirus

Next Post

De Beers diamond buyers locked out in Botswana travel ban

SAT Reporter

Related Posts

Anglo American’s new boss sounds warning on future copper supply
Business

Anglo American’s new boss sounds warning on future copper supply

by SAT Reporter
August 4, 2022
Africa Will Prosper With More Africa-To-Africa Business
Business

Africa Will Prosper With More Africa-To-Africa Business

by SAT Reporter
August 1, 2022
Ethiopia embarks on e-mobility transition
Business

Ethiopia embarks on e-mobility transition

by SAT Reporter
August 1, 2022
Namibia young entrepreneurs take the spotlight at Kasi Vibe Festival
African Start ups

Namibia young entrepreneurs take the spotlight at Kasi Vibe Festival

by SAT Reporter
July 31, 2022
Ethiopia’s largest commercial bank announces 530 mln USD annual profit
Business

Ethiopia’s largest commercial bank announces 530 mln USD annual profit

by SAT Reporter
July 29, 2022
Next Post
De Beers diamond buyers locked out in Botswana travel ban

De Beers diamond buyers locked out in Botswana travel ban

Browse by Category

  • African Continental Free Trade Area
  • African Start ups
  • Algeria
  • Analysis
  • Angola
  • Asia
  • Botswana
  • BOTSWANA
  • Burkina Faso
  • Burundi
  • Business
  • Business
  • Cameroon
  • Central Africa
  • China
  • Climate Change
  • Climate Changev
  • Congo Republic
  • COVID 19
  • Culture
  • Democratic Republic of Congo
  • Eastern Africa
  • Education
  • Egypt
  • Entertainment
  • Environment
  • Ethiopia
  • Europe
  • Fashion
  • Finance
  • Food
  • Food and Drink
  • Foods
  • Ghana
  • Global
  • Guinea
  • Health
  • Immigration
  • in Southern Africa
  • International news
  • Just In
  • Kenya
  • Lesotho
  • Libya
  • Life Style
  • Lifestyle
  • Malawi
  • Malawi
  • Mali
  • Markets
  • Middle East
  • Mozambique
  • Namibia
  • Nigeria
  • North Africa
  • Opinion
  • Politics
  • Rwanda
  • Senegal
  • Seychelles
  • South Africa
  • South Sudan
  • Sports
  • Startup Africa
  • STOCK EXCHANGE
  • Tanzania
  • Tech
  • Togo
  • Travel
  • Travel
  • Tunisia
  • Uganda
  • Uncategorized
  • West Africa
  • World
  • World
  • ZAMBIA
  • Zambia
  • Zimbabwe
  • ZIMBABWE

Browse by Tags

africa African business news Africa New Africa News african footballer African investments african markets African news African start-up banking Business China Classic Climate change Content currency Explore Bali Finance football Investment Life Style Markets Market Stories Namibia news Oilandgas oil and gas Opinion Pandemic Politics Premium Russia South Africa Southern African News sports Stay Home Travel United Kingdom United Stated Vaccine Work From Home Wuhan Zambia Zimbabwe Zimbabwe Harare Manufacturing Africa Employment creationn

WHO WE ARE

The Southern African Times is a regional bloc digital newspaper that covers Southern African and the world news. The paper also gives a nuanced analysis on news and covers a wide range of reporting which include sports, entertainment, foreign affairs, arts and culture.

Facebook Twitter Youtube Instagram Rss

Copyright © 2022 The Southern African Times | Powered by The Southern African Times

Privacy Policy

Terms and Conditions

  • Home
  • Southern Africa
  • Global
  • Business
    • African Start ups
    • African Continental Free Trade Area
  • Tech
  • Opinion
  • Sports
  • Lifestyle
    • Health
    • Culture
    • Food and Drink
    • Entertainment
  • SAT Jobs

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?