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flag Nigeria raised petrol and diesel prices by 15% via new import duties, boosting costs and sparking concerns over fairness and inflation.

flag 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. flag The move, part of a new tariff framework, aims to support local refiners and energy security, with projected daily revenue of ₦14 billion. flag The Dangote Refinery is exempted due to its location in an Export Processing Zone, raising concerns about favoritism and reduced competition. flag Independent importers may be disadvantaged, potentially increasing market concentration. flag Critics warn the policy could fuel inflation and black-market activity despite claims of stabilizing the downstream sector.

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