Nigeria’s petrol, diesel are subsidised.
A senior official within the Dangote Group has disclosed that the Dangote Petroleum Refinery has been absorbing part of the cost of petrol and diesel supplied to the Nigerian market. According to the official, the refinery’s ex-depot price of about ₦1,200 per litre for petrol is below prevailing market rates, especially in light of the recent surge in global crude oil prices driven by geopolitical tensions. Global oil prices rose sharply after disruptions in the Middle East, with Brent crude […]