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The upturn in global crude oil prices has pushed the landing cost of Premium Motor Spirit imported into Nigeria to over N282 per liter.
The landing cost of the product rose to N282.29 per liter on January 20 as the international oil benchmark, Brent crude, jumped to $89.75 per barrel that day from $77.24 per barrel on December 31, 2021.
Brent rose further on Wednesday to $90.22 per barrel as of 5.19 pm Nigerian time, its highest level since 2014.
