Nigeria is poised for a significant boost in oil revenue as crude prices surge above $100 per barrel due to escalating US-Iran hostilities. The OPEC basket, including Nigeria's Bonny Light, climbed 8.76% to $106.30 per barrel. However, this price surge raises concerns about fuel prices, inflation, and operating costs in Nigeria. The country's 2026 budget benchmark is set at $64.85 per barrel, indicating potential for substantial extra earnings.
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