By Jesusemen Oratokhai
Renowned financial expert Bismarck Rewane has projected that petrol prices in Nigeria will continue to decline until June 2025, driven by competition between Dangote Refinery and the Nigerian National Petroleum Company Limited (NNPCL).
Speaking on Channels Television’s Business Morning on March 4, Rewane explained that the ongoing price cuts stem from market rivalry but warned that future prices will depend on global oil trends and currency fluctuations.
Dangote Refinery recently slashed pump prices, selling petrol between ₦860 and ₦895 per liter, prompting NNPCL to match the ₦860 rate in Lagos, though no official announcement has been made.
While consumers currently enjoy the benefits of this price war, Rewane cautioned that market forces will eventually stabilize the situation.
