S&P Global Warns Subsidy Return Would Hurt Regional Fuel Pricing Hub

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S&P Global Warns Subsidy Return Would Hurt Regional Fuel Pricing Hub

ABUJA — S&P Global has warned that a return to fuel subsidies in Nigeria would undermine the development of a free and transparent fuel market in West Africa. Speaking at the opening of the company's Abuja office, Joel Hanley, an executive director, said the region should have its own price assessments in Lekki, Lomé and Lagos instead of relying on European benchmarks. Minister of State for Petroleum Resources Heineken Lokpobiri welcomed the office.

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