In 2023, FG announced the removal of fuel subsidies, and I am sure you know what happened next...

Pump price hike which boosted NGX oil and gas index from 566 to 1200+ basis points, that's a +100% move in 5-6 months.

Many oil and gas companies generated record revenue within that period and some of us made good money due to early positioning.

As I share these insights, it looks like a repeat of a similar event is happening but this time, it is not subsidy removal but an increase in fuel price to catch up with rising operational costs and gaps created by the FG removal of subsidy (according to an insider)

The pump price now sells at around M855 but is higher in most states.

While most downstream stocks have rallied higher, now at record levels not seen in years, this might be a catalyst for 1 oil I consider cheap relative to its growth potentials.

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This particular stock went up by 200% in 2023 but pulled back after it was battered by temporary challenges.

I bought some weeks back; and sold some units for +66% but the price action on the chart says we could see a bigger move in 6-12 months if fundamentals continue to improve as witnessed in the first and second quarters of 2024.

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