eneromhe, the fuel costs have risen primarily because domestic natural gas is priced in USD. So, when the Naira falls in value vis a vis the USD, gas users pay more.
Adedamola, I really worry for the Oando Group. Imagine reducing its stake in the valuable cash cow that Gas and Power business represents. I’m certain it was making much better margins in Gas and Power than it was in the downstream marketing business. Itmust really be in a very very deep hole and desperate. If oil prices do not rise, I struggle to see how Oando will cope in the long term, considering its huge leverage ratios.