Good news is expected for Nigerians petrol prices are expected to crash to #300 per liter as Dangote and other refineries set to begin mass production of petrol.
CORAN the body of refinery owners in the latest statement, that should mass production begin on a large scale, it would crash the price of petrol as against the one supplied by foreign companies.
CORAN described the rate given to Nigeria by foreign companies as cheating, adding that the prices of petrol will be reduced drastically just as diesel was reduced when Dangote began production.
While many are expecting Nigerian refineries to begin full-scale operation, the actual period for the running of the companies is expected anytime sooner with Dangote projecting his refinery can meet the demand of West African countries.
CORAN spokesperson, Eche Idoko said many Nigerian companies are beneficiaries of petrol importation at the expense of Nigeria, signifying that local production would relieve Nigerians of their suffering in regards to that.
He predicted a further crash in the price of diesel before December, saying petrol prices would follow suit the moment all refineries across the country begin full operations altogether.
The Oil marketers also believe that the cost of petrol should be lowered immediately after a large production begins in Nigeria.