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NNPC Hikes PMS Price to ₦915/litre as Middle East Tensions Increase
NNPC has announced an increase in the pump price of Premium Motor Spirit (PMS) by 5% to ₦915 per litre from ₦870 in the Lagos Metropolis. In Abuja, the price was also raised by 4% to ₦945 per litre from ₦910. The price of PMS in Nigeria is mainly a function of global crude oil prices and the distribution cost of moving the product nationwide. In the last two weeks, Brent has risen by 16% to $77pb, its highest level since January 2025. This is due to rising tensions between Iran and Israel, along with the recent U.S. strike on Iranian nuclear sites. The escalation has revived fears of supply disruption in the Strait of Hormuz, a vital route for nearly 20% of global oil shipments.
The increased PMS price is expected to have a knock-on effect on transport and logistics costs, thereby feeding into headline inflation. In Nigeria, every 1% rise in PMS prices is estimated to increase inflation by 0.018%. Hence, prolonged conflict in the Middle East could exert sustained upward pressure on consumer prices, complicating monetary policy and eroding household purchasing power.
The Affordability–Quality Trap in Nigerian Education: A Path to Human Capital Revival
Nigeria faces a deepening human capital crisis: over 18 million children are out of school, classrooms are overcrowded, and quality education is unaffordable for most. This traps millions in low-skill, low-productivity futures reflected in Nigeria’s weak GDP per worker ($6.20/hour vs. India’s $8.80). India broke a similar cycle through reforms focused on affordability, skills, and digital access. Its Skill India Mission trained over 140 million people, while platforms like DIKSHA delivered content to 180 million students via smartphones. Nigeria should adopt a “Skills-First Education Compact”—scaling vocational training, forging public-private edtech partnerships, and leveraging its 92% mobile penetration. By treating education as economic infrastructure, Nigeria can equip its youth for work and drive national productivity
In this latest edition of Prism, the FDC Think Tank takes a deep dive into recent economic developments and their impact on your business and corporate strategy.
Enjoy your read!
