Six Fuel-Laden Ships Berth in Lagos Port
Amidst an unstable demand and supply, the Nigerian Ports Authority (NPA) said that six ships had arrived at the Lagos Port Complex, waiting to berth with petrol, jet fuel, automobile gasoline and container.
The authority said that 23 other ships were expected to berth at the port between March 2 and March 15. It listed items expected as bulk wheat, soya beans, container, sulphur, frozen fish, bulk sugar, bulk urea, butane gas and petrol.
It said that 22 other ships were discharging general cargo, containers, petrol, bulk wheat, wheat bran pellet, truck, bulk sugar, bulk fertilizer, soya bean meal, automobile gasoline and bulk urea.
In Nigeria, the pump price of fuel has increased to N185-190 by official standard, though not well pronounced by the authority but major marketers in the country appeared to have pegged rates at the level to cover increased landing costs.
Unfortunately, the standard price does not appear to not be commercially viable for a large number of private filling/fuel stations across the nation with prices ranging between N270 and N320 despite lower pressures.
Some analysts believe that these differential prices will fizzle out after the successful conduct of 2023 presidential election, with a possibility that prices will reverse in line with a moderation in the global price of crude oil. #Six Fuel-Laden Ships Berth in Lagos Port
