Nigeria news highlights a potential price drop in Premium Motor Spirit, forecasted by financial analyst Paul Alaje. Speaking on Channels Television, Alaje predicts petrol may range from N650 to N800 per litre due to the ongoing price war between Dangote Refinery and the Nigerian National Petroleum Company Limited (NNPCL). He stresses that competition will benefit Nigerians.
In his cautious outlook, Alaje warned that if cooperation fails, it risks fuel price spikes. He emphasised the necessity for more refineries to prevent monopolies, urging Nigerian citizens to appreciate non-collusive practices in the fuel sector. As competition persists, fuel prices could remain favourable.
- The price war between Dangote Refinery and NNPCL may drop petrol costs to N650-N800.
- Alaje underlines the threat of monopoly if either loses ground.
- More refineries are needed to sustain healthy competition.
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