Power Cuts and Petrol at ₦1,500: Nigeria’s Energy Crisis Deepens

Global tensions have pushed crude oil above $100 a barrel. This has driven Nigerian pump prices from about ₦800 to ₦1,500 per litre since late February. Experts urge the federal government to remove levies on petroleum products and back local refineries like Dangote on concessionary terms. They also call for investment in affordable public transport, import-duty waivers on solar equipment, and an urgent upgrade of power infrastructure. Others warn that capping fuel prices risks reintroducing costly subsidies and disrupting supply chains. They stress that Nigeria’s production shortfall and contractual obligations limit any immediate windfall from higher global prices.

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