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Transport fares have risen across Nigeria as petrol prices climbed to as high as N1,400 per litre, following a surge in global crude oil prices above $100 per barrel amid renewed Middle East tensions.
Dangote Refinery resumed gantry loading in naira while raising its ex-depot price by N140 to N1,215 per litre. In Lagos, ex-depot prices range between N1,275 and N1,279, while Kaduna sells at N1,350 and Maiduguri between N1,370 and N1,390.
Transport operators in Abuja reported fare increases of 20-40%, while residents in Ilorin, Ibadan and Kano also felt the impact. Experts say the deregulated market and limited naira-for-crude availability leave Nigeria exposed to global price shocks.
Key Points:
Petrol prices hit N1,400 per litre in some parts of Nigeria.
Dangote Refinery raised ex-depot price by N140 to N1,215 per litre.
Transport fares rose 20-40% in Abuja, with increases in Lagos, Ilorin and Kaduna.
Brent crude surged above $100 per barrel amid US-Iran tensions.
Experts blame deregulation and limited naira-for-crude supply for price volatility.
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