Nigerian independent oil marketers raise petrol prices to N1,200/liter following petroleum sector deregulation.

Independent oil marketers in Nigeria have raised petrol prices to an average of N1,200 per liter, following the deregulation of the petroleum sector. This shift allows the Nigerian National Petroleum Company Ltd to terminate its exclusive purchasing agreement with Dangote Refinery, enabling other marketers to buy petrol directly from the refinery. The change reflects standard practices in a fully deregulated market.