By Udeme Akpan, Energy Editor
Nigeria is poised for a major oil revenue boost but faces renewed pressure on fuel prices, inflation and operating costs as escalating hostilities between the United States and Iran push crude prices above $100 per barrel.
Latest market data showed that the Organisation of Petroleum Exporting Countries Basket, including Nigeria’s Bonny Light climbed 8.76 per cent to $106.30 per barrel, from more than $90 per barrel on Wednesday.
The rally followed a fresh escalation in the U.S.-Iran conflict, including attacks on Iranian oil tankers, heightening fears of disruptions to crude supplies, shipping routes and critical energy infrastructure in the Middle East.
Revenue boost for government
