Bismarck Rewane, Managing Director of Financial Derivatives Company Limited, predicts a significant drop in diesel prices below N1,000 per litre with the commencement of diesel production at the Dangote Refinery.
During an interview on Channels Television’s News At 10, Rewane highlighted the potential impact of this development on Nigeria's economy, particularly in addressing inflation concerns.
He discussed recent interest rate hikes by the Central Bank of Nigeria (CBN), emphasizing the need for a balance between monetary control tools and fiscal measures.
Rewane also analyzed key economic indicators such as exchange rate appreciation, GDP growth, and money supply expansion, providing insights into their implications for inflation and overall economic stability.
He noted that while inflation rates are expected to moderate over time, challenges such as minimum wage adjustments could influence this trajectory. Despite these challenges, Rewane expressed optimism about the positive effects of the Dangote Refinery's diesel production on various sectors, including transportation and manufacturing.
He concluded by highlighting the significance of upcoming monetary policy meetings and the importance of continued efforts to strengthen Nigeria's economy through effective policy implementation and strategic investments.
