Will the average petrol pump price in Nigeria rise above ₦1,250 per litre before September 5?

Outcome: YES

How this forecast is settled

Will Nigeria's national average petrol pump price exceed ₦1,250/litre at any point before September 5? With refinery prices already rising and some major marketers approaching or exceeding the threshold, Yes appears reasonably likely.

Resolution

The national average petrol pump price in Nigeria did exceed ₦1,250 per litre before September 5. Driven by rising ex-depot prices from the Dangote Refinery and subsequent price adjustments by the Nigerian National Petroleum Company Limited (NNPC), retail prices across many parts of the country climbed well past the threshold, with prices ranging between ₦1,299 and ₦1,350+ per litre.

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