Petrol prices projected to decrease in Nigeria amid new agreements

FILE - A view of oil installations at the Dangote refinery during the opening ceremony in Lagos, Nigeria, May 22, 2023. Nigeria’s Dangote Petroleum Refinery, which is Africa’s biggest, says it has begun production, starting with diesel and aviation fuel.

For decades, Nigeria has relied on imports to meet fuel demand, spending about $15 billion annually. Now, new alliances aim to cut these expenses by investing in homegrown energy, targeting affordable petrol for consumers and boosting the economy.