Nigerians may soon face another increase in petrol prices as fuel importers prepare to raise depot prices from ₦1,230 to ₦1,350 per liter, a move expected to squeeze marketers’ margins and push retail pump prices higher in the coming days. The increase comes amid rising import costs and continued pressure on foreign exchange, with marketers warning that consumers are likely to bear the impact if market conditions persist.
Meanwhile, industry leaders are signaling a major shift in Nigeria’s renewable energy sector. Speaking at Solar & Storage Live Nigeria 2026, held at the Landmark Centre, Lagos, renewable energy experts said investors are increasingly moving capital away from standalone solar generation projects and into battery energy storage systems (BESS). The conference, one of West Africa’s largest clean energy events, brought together developers, investors and policymakers to discuss the future of Nigeria’s power sector.
According to speakers at the event, battery storage has become more attractive because it allows homes, businesses and mini-grids to store electricity generated during the day and use it during outages or peak demand periods.
With solar panel prices falling globally, many investors now see energy storage as the segment offering stronger long-term value and more reliable returns. The shift also reflects Nigeria’s growing demand for dependable off-grid electricity as businesses seek alternatives to expensive diesel generators.
The developments highlight two contrasting trends in Nigeria’s energy market: while motorists could soon pay more for petrol, investment is increasingly flowing into technologies aimed at reducing dependence on fossil fuels over the long term.
