AbujaPetrol rose from ₦830 to ₦1,400 a litre since February.
Finance minister Taiwo Oyedele says Brent trades above $100, almost 50% over its pre-war level.
Nigeria’s government is negotiating a ₦1,350-a-litre ceiling on landing cost, with refiners and importers carrying any excess and recovering it later.
Oyedele says the arrangement is neither a subsidy nor a price control, and figures would be published monthly.
The government is also weighing an excess profit tax on energy operators and forward crude sales to domestic refineries.
How each outlet framed it
- Premium Times Nigeria
- stresses that the ceiling is neither subsidy nor price control, with refiners carrying shortfalls and monthly published reviews
Sources: Premium Times Nigeria