‘How to stop petrol price hike’

In order to stop the continuous rise in gas prices, Dr. Muda Yusuf, CEO of the Centre for the Promotion of Private Enterprise (CPPE), has emphasised the necessity of localising oil and gas transactions.

In an interview that The Nation saw air on national television, Yusuf stated that localising oil and gas transactions will increase transparency in the domestic production process in addition to creating jobs and conserving foreign cash.

The reduction of foreign exchange pressure, in his opinion, would have a major effect on the macroeconomic climate of the nation.
He declared: "Importing fuel needs to be localised." The Dangote Refinery is a blessing in our lives. We have a fantastic chance to localise all fuel supply-related transactions. It will increase the transparency and integrity of the process. It will help us to strengthen our reserves and moderate the pressure on the exchange rate,”

Yusuf urged government officials and relevant stakeholders to investigate the issue for a resolution.
He continued, "I don't think we can leave this big issue solely to the NNPCL; I think higher authorities need to weigh in on this."
Furthermore, the CEO of CPPE asserted that the Nigerian National Petroleum Company Limited (NNPCL) was not showing enough "excitement" about the Dangote Refinery's onboarding, which he considered worrisome.

He said, "It is very strange and I am worried that the NNPC is not showing enough excitement about this Dangote Refinery."