04
Jul
Since May 31, 2023, the Federal Government of Nigeria has saved over N400 billion as a consequence of the elimination of the subsidy on Premium Motor Spirit, often known as gasoline, oil marketers reported on Thursday. Additionally, the oil traders predicted that the price of gasoline will likely increase in July given the Federal Government's recent decision to allow the naira to float against the US dollar. On June 14, 2023, the Central Bank of Nigeria combined the nation's currency rates into the window for investors and exporters, enabling market forces to set the exchange rate. Operators in the downstream…