NEWS

Petrol Pump Price Will Fall In 2024 – CBN Governor, Yemi Cardoso Assures

Published

4 months ago

January 24, 2024

Central Bank of Nigeria, CBN, Governor, yemi cardoso, has said the pump price of petrol will fall in 2024.
Cardoso explained that the fall in the price of petrol would be due to government and private-owned refineries that commenced operation.

He spoke on Wednesday, January 24, at the launch of the Nigerian Economic Summit Group (NESG) 2024 Macroeconomic Outlook Report in Lagos.

The CBN governor said the expected

“Stabilisation or reduction in fuel costs is poised to have far-reaching implications across various sectors, contributing significantly to overall economic efficiency and resilience”.

While Dangote Refinery has already commenced operations, the Port Harcourt Refinery is expected to begin production soon.

Cardoso said the apex bank, the Ministry of Finance and the NNPCL have also collaborated to ensure that all forex inflows are returned to the CBN to boost reserves accretion.

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Related Topics:cbn governor Yemi Cardoso

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Godwin Chi

Ojogwu Godwin Chukwudi hailed from Delta State. A young talented personality, Alumnus of Delta State university,Abraka Studied Library and information science. He is an intellectual cyber communicator expert and a prolific blogger professional.