By Reno Omokri
Expect the price war between Air Peace and European airlines to escalate further, because the Dangote and Port Harcourt refineries will crash the price of Jet A1 fuel. Expensive Jet A1 fuel is one of the chief causes of high ticket prices to Nigeria compared to other destinations.
And in addition to the actions the Central Bank of Nigeria has taken to facilitate the rise of the Naira, expect our currency to appreciate further and rise to below ₦1000 to $1 once the Dangote Refinery and the Port Harcourt Refinery come on stream.
Not only will fuel importation gradually end, but Nigeria may even start exporting fuel products, just as we now even export cement to Europe and to other West African nations, which is likely to reduce the price of Premium Motor Spirit, diesel, kerosene and other petroleum products domestically and lead to an inflow of capital into Nigeria.
So, again, I warn those hoarding dollars, fuel, and food, to release your produce into the market NOW. Arise TV lied to you. Dollar will not get to ₦2000 to $1. Your plans to politically dominate and economically exploit Nigeria have failed. It is more likely to settle at less than half of their evil prophecy. Tentatively at ₦950 to $1.
Rice prices will not keep increasing. Premium Motor Spirit and diesel costs are going to become more affordable. Nigeria is winning, and you are losing. If you don’t stop hoarding, you may be wiped out economically in May 2024 by the forces of #GrowNairaBuyNaija, which is bringing inflation down and taking the Naira up. Do not say you were not warned!
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