An energy expert and Vice Chair of the African Energy Council, Chinan Dikwal, has said that despite the Dangote Refinery coming on board and moves to rehabilitate the government-owned refinery taking time for such to materialize, the price of petrol will not come down anytime soon.
Since the removal of subsidy on the product over one year ago, the price of fuel has moved from around N200 to about N1,000 across the nation.
Dikwal spoke on Tuesday as a guest on Channels Television’s special programme to mark Nigeria’s 64th Independence anniversary.
According to him, “The moment you deregulate the market, allow free market forces to come in, then the question about price becomes quickly sorted, because you will start to see it come down.
“But I can say this to Nigerians: if you are waiting for the price to go down anytime soon, you can forget about it. Diesel is about N1,180 per liter Most likely, petrol will probably creep to that before free market forces come down before we start to see it come down.”
