Nigeria has recorded one of the sharpest increases in petrol prices worldwide, underscoring the country’s continued vulnerability to external oil…
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The Nigerian National Petroleum Company Limited (NNPCL) has published a breakdown of estimated petrol prices sourced from the Dangote Refinery for its retail stations in Lagos and other states across the country.
However, the experts said though the behemoth refinery is located in Lagos, Nigeria, the input cost for the operationalisation of the $20 billion facility is import-dependent, adding that the volatility of the foreign exchange rates might make it difficult for any marginal reduction in the prices of the premium commodities.