By Gwurld4026 
NIPSS Predicts Petrol Prices Will Reach N750 by 2025
Ayo Omotayo, Director-General of the National Institute for Policy and Strategic Studies (NIPSS), has projected that petrol prices in Nigeria could decrease to approximately ₦750 per litre before the end of 2025. This anticipated reduction is attributed to the commencement of operations at the Dangote Refinery and the revitalization of other local refineries, such as the Port Harcourt facility, which has reportedly been operational for over 110 days.
Omotayo emphasized that these developments are expected to enhance domestic fuel production, thereby reducing reliance on imports and stabilizing prices. He also noted that the removal of fuel subsidies, while initially challenging, is projected to yield long-term economic benefits.
Additionally, Omotayo forecasted an appreciation of the naira, predicting an exchange rate improvement to about ₦1,300 per US dollar by year-end, as Nigeria progresses towards becoming a net exporter of refined petroleum products.