Nigeria Reduces Oil Prices

Wed, 01 Apr 2026 13:13:17 +0000

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Nigeria has announced a 10%cut in local pump price of petrol following the continued fall in global oil prices. A litre of fuel now sells for 87 naira, which is around 51 U.S. cents. Analysts say the new pricing template now effectively wipes off a controversial government subsidy on petrol. But what happens when global oil prices begin to pick up? CCTV's Deji Badmus reports.