Nigeria, April 1 -- The adjustment marks a slight rise from the previous rate and reflects broader efforts to align pricing with market realities under the Petroleum Industry Act. Updated rates also affect commercial users, who will now pay higher tariffs, while gas-based industries will operate within a revised pricing band.



Regulators say the new structure is designed to strike a balance between affordability and investment attraction in Nigeria's gas sector. By tying prices to international benchmarks and production costs, authorities aim to encourage supply while keeping the domestic market competitive.



The News Chronicle understands that the timing of the increase comes as Nigeria's power sector faces mounting financial stra...