The Crude Oil Refinery Owners Association of Nigeria (CORAN) believes that with the current decline in crude oil prices, the cost of Premium Motor Spirit (petrol) could drop below N400 per litre. 

This prediction is likely based on the association’s expertise in the crude oil refining industry and their understanding of the relationship between crude oil prices and petrol prices.

As a non-profit association, CORAN aims to promote crude oil refining in Nigeria and works closely with government agencies to boost the country’s refining capacity.

 Their statement suggests that the current market conditions could lead to a decrease in petrol prices, which would be a welcome relief for consumers.

It’s worth noting that CORAN’s prediction is based on the current crash in crude oil prices, and the actual outcome may vary depending on various market and economic factors.

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