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.
Kehlani's "Folded": A Heartfelt Journey of Waiting for Love Here’s the scoop on Kehlani’s new…
A Call for Compassion: Kim Kardashian Speaks Out Against ICE Raids in LA Kim Kardashian…
Celebrating Success: How Brazil and Ecuador Qualified for the 2026 World Cup Brazil and Ecuador…
How Miley Cyrus and Her Family Overcame a Decade of Challenges Miley Cyrus recently opened…
Shocking Case: Federal Employee Charged with Capital Murder After Allegedly Administering Abortion Pills to Girlfriend…
President Tinubu's Upcoming Address: Why He Chose the National Assembly Over a National Broadcast President…
This website uses cookies.