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Petrol prices up 50 percent

    ABIDJAN
    Petrol prices rose by 50 percent in Nigeria on Thursday following efforts by the government to prevent shortages and close a gap between retail charges and production costs. The managing director of the state-owned Nigerian National Petroleum Corporation (NNPC), Jackson Gaius-Obaseki, announced in Abuja that the NNPC was now buying a barrel of crude at US $20 compared to US $9 before the hike. Aviation fuel had already doubled before Thursday's announcement, which was made after the NNPC met with major oil wholesalers.

    This article was produced by IRIN News while it was part of the United Nations Office for the Coordination of Humanitarian Affairs. Please send queries on copyright or liability to the UN. For more information: https://shop.un.org/rights-permissions

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