Rising oil prices, spurred on by the war in Iran, have exacerbated Nigeria's energy crisis. What effect is the Iran war having on oil prices in Nigeria? Since the outbreak of the war in Iran, prices of petrol in Nigeria have surged multiple times. The increase in oil prices has prompted depot operators across key supply hubs to halt purchases of fuel. "The revision reflects the surge in global crude oil prices," Arise reported, citing a market source.

Source: The Guardian March 15, 2026 15:41 UTC