\n
Central Bank of Nigeria, CBN, Governor, Yemi Cardoso, has said the pump price of petrol will fall in 2024.<\/p>\n
Cardoso explained that the fall in the price of petrol would be due to government and private-owned refineries that commenced operation.<\/p>\n
He spoke on Wednesday, January 24, at the launch of the Nigerian Economic Summit Group (NESG) 2024 Macroeconomic Outlook Report in Lagos.<\/p>\n
The CBN governor said the expected \u201cstabilisation or reduction in fuel costs is poised to have far-reaching implications across various sectors, contributing significantly to overall economic efficiency and resilience\u201d.<\/p>\n
While Dangote Refinery has already commenced operations, the Port Harcourt Refinery is expected to begin production soon.<\/p>\n
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.<\/p>\n","protected":false},"excerpt":{"rendered":"
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