Importing Fuel Now Makes No Economic Sense – OVH Energy
November 25, 2019
9:22 am
OVH Energy Marketing Limited, Oando Licensee, has said importing fuel under the current arrangement does not make economic sense for any investor.
Its Managing Director, Mr. Hubb Stockman, stated this at an interaction with energy editors on the milestones recorded by the company. He said even if forex was procured at the official exchange rate of N306 from the Central Bank of Nigeria (CBN), such investor would end up selling at a loss in the market.
He said the development has left the Nigerian National Petroleum Corporation (NNPC) as the sole importer of petrol into the country, adding that …
