Fuel Could Sell For N750 Per Litre Before End Of Year, Says NIPPS

The National Institute for Policy and Strategic Studies (NIPSS) has said that with Dangote Refinery and others coming on board, as well as other reforms in the downstream sector, Nigerians should expect a crash in the price of petrol.

The Director General, NIPSS, Ayo Omotayo, while featuring on Channels Television’s The Morning Brief yesterday, also said the product could sell for N750 per litre before the end of 2025.

Recall that the product was sold for less than ₦200 per litre before President Bola Tinubu unilaterally during his May 29, 2023 inaugural speech announced the removal of fuel subsidy.

However, owing the current landing costs of fuel and the uncertainty of the continuation of the nariafor-crude policy of the federal government the product currently sells between N930 and N970 per litre.

Omotayo opined that while the removal of fuel subsidy by President Bola Tinubu’s administration has led to a hike in the cost of the essential item, better days are ahead for the country. He said: “With the removal of the first subsidy, we have Dangote Refinery coming on.