Nigeria’s State-owned oil Company Increases Oil Prices

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

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by 11%.
Citing the higher cost of purchasing oil from the Dangote refinery, the state-owned oil company has raised prices, with rates in Lagos rising to 950 Naira per litre (approximately 58 U.S. cents). But despite this price hike challenge, the new refinery may also address long-standing issues of fuel shortages and long queues at pumps.

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