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Crude oil prices have risen above $100 per barrel, raising concerns that petrol prices and inflation could increase in NigeriaThe FG could earn billions of naira in extra oil revenue because prices are far above the 2026 budget benchmark of $64.85 per barrelIndustry experts warn that the surge in global oil prices is likely to trigger fresh fuel price volatility and increase the cost of living
Legit.ng journalist Victor Enengedi has over a decade’s experience covering energy, MSMEs, technology, banking and the economy.
Nigeria could be on the verge of another wave of inflation after global crude oil prices climbed above $100 per barrel following the worsening conflict between the United States and Iran, raising concerns over higher petrol prices, transport costs and the overall cost of living.
The sharp rise in oil prices is also expected to boost government earnings, as Nigeria could generate billions of naira in additional revenue from crude
