Connect with us

    Hi, what are you looking for?

    News

    Hope for Drivers as Petrol Costs Predicted to Dip by 2025

    National Institute for Policy and Strategic Studies (NIPSS) has predicted that the price of Premium Motor Spirit (petrol) will decline as Dangote Refinery and other local refineries commence full operations.

    Speaking on Channels Television on Tuesday, April 1, NIPSS Director-General Ayo Omotayo expressed optimism that fuel prices would fall once more refineries become operational.

    He projected that petrol prices could drop to around N750 per litre before the end of the year with a more stable exchange rate.

    “We’re looking at it coming down as low as N750 before the end of the year. And of course, foreign exchange will still drop to about 1.3 before the end of the year, and it is going to continue like that as more of our refineries come into place.

    Omotayo acknowledged the current economic hardships but insisted that the policy would benefit Nigerians in the long run.

    “The gains at this time are very little, but in the long run, we will make up for whatever sacrifices we have made today as Nigerians” he stated

    Loading

    Spread the love
    Click to comment

    Leave a Reply

    Your email address will not be published. Required fields are marked *

    ad

    You May Also Like

    News

    FirstBank of Nigeria has announced the integration of the Pan-African Payment and Settlement System (PAPSS) into its digital banking platform, the LIT App, enabling...

    Tech

    Paradigm Initiative (PIN), a pan-African digital rights organization, has condemned ongoing internet access restrictions in Cameroon, describing them as a violation of fundamental rights...

    Tech

    The Art of Technology Lagos 7.0 proudly announces the fourth edition of the prestigious Tech Ecosystem Awards, dedicated to celebrating the individuals, organizations, and...

    News

    President Donald Trump’s proposed 90,000-square-foot White House ballroom is being financed by a coalition of major corporations, wealthy individuals, and political allies, according to...