Manufacturers, Airlines To Gain As LCFE Plans Domestic Reference Price For Fuel

Manufacturers, transport operators, airlines, distributors and other petroleum-dependent enterprises could improve budgeting, procurement planning and cost forecasting as the Lagos Commodities and Futures Exchange (LCFE) moves to establish credible domestic reference prices for petroleum products based on observable market activity.
The initiative follows the Exchange’s recent licence from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to facilitate the trading and clearing of petroleum liquids.
The LCFE said it is seeking to connect the physical petroleum market with Nigeria’s capital market through a structured, technology-enabled trading platform.
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