The National Institute for Policy and Strategic Studies has stated that with the Dangote Refinery and other local refineries beginning operations, Nigerians should anticipate a drop in petrol prices.
Before the subsidy removal, petrol sold for less than ₦200 per litre but now costs around ₦930 per litre, depending on the location.
However, NIPSS Director-General, Ayo Omotayo, stated that while the subsidy removal under President Bola Tinubu’s administration has driven up prices, better days lie ahead for the country.