Petrol Price Hike: The Nigerian National Petroleum Company (NNPC) has increased petrol prices following its decision to end its exclusive supply deal with the Dangote Refinery. Petrol prices have risen sharply, with stations in Lagos now charging up to ₦998 per liter, while prices in Abuja range from ₦1,030 to ₦1,065. This development opens the market to independent marketers who can now purchase directly from the refinery​.
Nigeria is expecting an influx of $50 billion in investments as a consortium of South Korean investors plans to build four new refineries. Each refinery is projected to have a capacity of 100,000 barrels per day, which aims to boost local fuel production and reduce the country’s reliance on imports​.These developments reflect ongoing shifts in Nigeria’s energy sector and highlight new investment opportunities driven by recent policy changes.
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