Nigeria Suspends Fuel Import Licences As Prices Surge Amid Global Oil Crisis
Nigeria is facing a new fuel market controversy after authorities suspended import licences for several major oil companies to prioritise domestic gasoline supply. Officials say permits will only be issued if local production falls short under national energy laws. The move comes as gasoline prices surge in Nigeria due to the ripple effects of the ongoing West Asia conflict, which has pushed global oil prices higher. Authorities say the policy aims to strengthen domestic refining and reduce reliance on foreign fuel imports.
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