Exchange Rate Crisis Will Keep Nigerian Fuel Costs High – Analyst

Petrol prices will continue to rise in Nigeria as long as the government presses ahead with its agenda of deregulation, economic analyst and businessman Kelvin Emmanuel has told RT.

VerseNews understand that Nigeria’s efforts to merge its multiple foreign exchange rates have triggered a cost-of-living crisis.

Nigerian President Bola Tinubu’s office said on Thursday that there would be no more hikes in the price of petrol after economists warned that a third increase in three months could be forthcoming. 

Speaking on Saturday, Emmanuel said that only the market will decide how much Nigerians pay at the pumps