Yemi Cardoso, the Governor of the Central Bank of Nigeria (CBN), predicts a decrease in the pump price of petrol in 2024, attributing it to the operational commencement of government and private-owned refineries.
Speaking at the launch of the Nigerian Economic Summit Group (NESG) 2024 Macroeconomic Outlook Report, Cardoso emphasized the potential positive impact on various sectors, contributing to overall economic efficiency and resilience.
With Dangote Refinery already operational and the expected start of production at the Port Harcourt Refinery, collaboration among the CBN, Ministry of Finance, and NNPCL aims to ensure forex inflows bolster reserves accretion.
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