Why Is Petrol in Nigeria Nearly as Expensive as in the US?

I can’t believe we’re paying petrol prices similar to those in the US, despite being one of the world’s top oil producers. I thought the new Dangote refinery would lower costs. Yet Nigerians face some of the highest fuel prices among major oil nations. Even with the war in the Middle East, Saudis pay far less at the pump. Fuel costs have become a serious burden since the subsidy was removed. Is the subsidy even working? Why hasn’t Dangote passed any savings on to consumers? Should other investors build refineries to boost competition and drive prices down? And what about the oil cabals keeping costs high—how much profit is enough?

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