CBN Governor predicts decrease in pump price of Petrol in 2024

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Yemi Cardoso, the Governor of the Central Bank of Nigeria (CBN), has predicted a decrease in the pump price of petrol in 2024.

Cardoso attributed this anticipated reduction to the operational commencement of both government and privately-owned refineries. He made this announcement on January 24 during the launch of the Nigerian Economic Summit Group (NESG) 2024 Macroeconomic Outlook Report in Lagos.

The CBN governor said the expected “stabilisation or reduction in fuel costs is poised to have far-reaching implications across various sectors, contributing significantly to overall economic efficiency and resilience”.