There is anxiety that Nigerians may continue to pay more for Premium Motor Spirit, PMS, also known as petrol alongside Automotive Gas Oil, called diesel as the price of crude oil rose to above $100 per barrel, yesterday.
Many Nigerians had looked forward to lower fuel energy cost, following a drop on Wednesday to $92, but after escalations in the United States and Israel war on Iran, with Iran's n...
The strongest version of this narrative highlights the fragility of Nigeria's energy security amid geopolitical shocks. The article effectively traces the causal chain from Iran's Hormuz blockade to global oil price spikes and their domestic ripple effects, acknowledging both market forces and policy responses. It also captures the tension between short-term price volatility and long-term structural transitions in Nigeria's downstream sector, as noted by Prof. Wumi Iledare. However, the framing ...