The National Institute of Policy and Strategic Research (NIPS) predicts that the price of advanced sports spirit (gasoline) will be rejected as Dangote refineries and other local refineries begin to operate in full swing.
NIPSS Director Ayo Omotayo spoke on channel television on Tuesday, April 1, saying fuel prices will fall once there are more and more refineries.
He expects gasoline prices may drop to 750 n750 per liter by the end of the year, with a more stable exchange rate.
“We are looking at its low as N750 before the end of the year. Of course, Forex will still drop to about 1.3 by the end of the year, and it will continue to do so as more of our refineries are in place.
Omotayo acknowledges the current economic hardship, but insists that the policy will benefit Nigerians in the long run.
“There are few gains right now, but in the long run, we will make up for all the sacrifices that Nigerians have made today,” he said.
