Nigerians, make una gather here jare, wetin dey happen for petrol market? Na the Central Bank of Nigeria (CBN) don yarn say pump price for petrol fit waka go N950 per litre for 2026. How we go take survive this wahala?
CBN don drop their 2026 Macroeconomic Outlook wey talk sey dem base this projection on wetin go happen with crude oil price – dem expect am to dey around $60 per barrel for last quarter of 2025 and $55 for 2026. Dem also yan sey na N1,451.63 for dollar exchange rate we go see for Q4 2025 and N1,400 for 2026. Abeg, make we dey shine our eyes!
Dem talk sey crude oil production go hold strong at about 1.5 million barrels per day. But as the petrol price dey show say e no wan give us chance, wetin we go do? E mean say if things no change, we go dey pay more money to fill our tanks.
For December, we see as Dangote refinery don drop petrol price from N828 to N699 per litre, but we no fit forget how fast these changes dey come. Na so MRS Oil come carry the same N739 per litre come for their stations. Dem no wan lose customers o!
Make we no forget wetin Donzo refinery talk from time: if we dey rely too much on fuel imports, na N1,400 per litre we fit see soon. That one no go sweet for eye at all. Dem don tell us sey large-scale domestic refining don dey help stabilise our market. How you go see am? Na wetin we need be that.
CBN don also consider sey if private sector fit invest plenty, especially with Dangote refinery being their poster child, e go help grow our economy for 2026. E mean sey with better security round oil wells, we fit get beta production and fine energy prices. How you see this ginger?
For this planning compass, dem also drop hope sey headline inflation go dey calm down from 21.26% for 2025 to 12.94% for 2026. Na food and petrol price dey help this deceleration wey CBN dey hope for. E mean say more competition for midstream go help drop petrol price. Abeg, we dey pray say na true be this gist.
Lastly, global commodity prices dey expect to fall by 5.52% next year, and energy prices fit reduce by 6.99% too. Na wetin we dey see as demand dey weak and supply dey balance. Remember sey food and metal prices dey follow this pattern too. We dey hope sey things go balance for our side!
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