Sango-Ota (Ogun): Dr Titus Okunronmu, former Director of Research at the Central Bank of Nigeria (CBN), has praised the Dangote Refinery for reducing the pump price of petrol from ₦828 to ₦699 per litre. He described the move as a welcome development that offers significant relief to millions of Nigerians.
Okunronmu made the commendation while speaking with journalists on Saturday in Ota, Ogun.
Dangote Refinery cut its ex-depot petrol price from N828 to N699 per litre on Thursday.
The latest reduction, down from N828 per litre, represents a 15.58 per cent drop and marks the refinery’s 20th price adjustment this year.
The ex-CBN director said that the further reduction in petrol prices by Dangote Refinery was a welcome development that would bring significant relief to millions of Nigerians.
Dangote Refinery’s price reduction is a real benefit to Nigerian consumers. If all prices could come down, that would be real income gains to Nigerians.
“Also, it is a good development compared to when it was being suggested that Dangote should import crude oil refining into Nigeria,” he said.
Okonofua appealed to the Federal Government to provide an enabling environment for Dangote Refinery to thrive, to prevent those exporting crude oil and importing refined petroleum products into the country.