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The ripple effects of Nigeria’s rising petrol prices are now visibly reshaping daily life in the Federal Capital Territory, as car owners park their vehicles and many low-income residents resort to trekking just to survive the commute. Findings by the News Agency of Nigeria across major routes in Abuja paint a stark picture. Typically…
Nigeria has recorded an estimated oil revenue windfall of approximately N5.13 trillion within two months, as global crude prices surged sharply amid the escalating conflict between the United States and Iran, a development that has simultaneously delivered fiscal relief to the government and fresh economic hardship to ordinary citizens. International benchmark Brent crude…
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has attributed the latest surge in fuel pump prices to the “vagaries of market forces” following the escalation of the US-Israel-Iran war. NMDPRA spokesperson George Ene-Ita stated on Sunday that under the current deregulated regime, the government no longer dictates prices. Instead, local costs are directly…
