US-Russia diesel deal aims to cut global fuel prices, Nigeria impact uncertain
Trump said Russia will immediately supply over 300,000 tonnes of diesel to the US and global market, followed by 500,000 tonnes in November, another 1,000,000 tonnes soon after, and up to 3 million more tonnes depending on refinery conditions, totalling more than 4.8 million tonnes. The US Treasury issued a temporary licence allowing Russian diesel imports until April 7, 2027, easing sanctions imposed over Ukraine's invasion. Ukraine warned the deal could fund Russia's war, while Nigerian diesel sold at about N1,800 per litre at some depots, up from N1,420 in February 2026 according to NBS. It remains unclear whether the extra global supply will lower prices in Nigeria, where fuel costs affect transport, food prices and inflation. Nigerian commuters and businesses should watch local pump prices and consider budgeting for possible changes, though any relief may take time to appear. The deal comes ahead of the November 3 US midterm elections, with Trump seeking to ease rising energy costs to help Republicans retain Congress.