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Nigeria’s oil paradox in the Iran war: windfall gains, inflation pain

Nigeria young voters protest for reforms. Photo by Ayoola Salako @ Unsplash
Nigeria young voters protest for reforms. Photo by Ayoola Salako @ Unsplash
  • Oil windfall boosts Nigeria’s government revenue
  • Fuel prices surge, squeezing household incomes

 

ABUJA, NIGERIANigeria is gaining from surging oil prices but citizens face mounting fuel costs and rising inflation pressures.

Nigeria is reaping both the benefits and the burdens of the Iran war, as higher global oil prices boost government revenues while driving up domestic fuel costs and squeezing households.

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