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Nigeria raised petrol and diesel prices by 15% via new import duties, boosting costs and sparking concerns over fairness and inflation.
Nigeria has imposed a 15% import duty on petrol and diesel, effective October 21, 2025, raising the cost by about ₦99.72 per litre and pushing Lagos pump prices to roughly ₦964.72.
The move, part of a new tariff framework, aims to support local refiners and energy security, with projected daily revenue of ₦14 billion.
The Dangote Refinery is exempted due to its location in an Export Processing Zone, raising concerns about favoritism and reduced competition.
Independent importers may be disadvantaged, potentially increasing market concentration.
Critics warn the policy could fuel inflation and black-market activity despite claims of stabilizing the downstream sector.
Nigeria elevó los precios de la gasolina y el diésel en un 15% a través de nuevos aranceles de importación, aumentando los costos y provocando preocupaciones sobre la equidad y la inflación.