NIGERIA FUEL PRICES SURGE DESPITE REFINERY – Nigeria records Africa’s biggest gasoline price jump despite Dangote refinery launch
Nigeria has recorded the biggest rise in gasoline prices across Africa despite the launch of the Dangote refinery, which was expected to ease fuel costs in the country.
Prices at the pump have surged in recent months, driven by currency weakness, high crude costs, and ongoing supply challenges within the domestic market.
The development has raised concerns about the refinery’s ability to quickly stabilise fuel prices in Africa’s largest oil producer.
Economists say structural issues, including distribution bottlenecks and foreign exchange pressures, are limiting the immediate impact of increased local refining capacity.
Consumers and businesses are now facing higher transport and operating costs, adding to inflationary pressures in the broader economy.
Analysts warn that without further reforms and improved supply chains, fuel prices could remain volatile despite Nigeria’s growing refining capabilities.
