Mr Okunrounmu commended Aliko Dangote for building a state-of-the-art refinery that has helped stabilise petrol prices and ensure a steady supply.
In an interview with journalists, the ex-CBN director noted that the high governance costs had increased recurrent expenditures.
The NBS said the nation’s inflation rate rose to 33.88 per cent in October from 32.7 per cent in September to 33.88 per cent.
“In addition, it needs to further tackle corruption because this menace had been a challenge to the nation’s economy,” he said.
Ex-CBN director Titus Okunrounmu has advised President Bola Tinubu’s government to reduce the cost of governance to stem the country’s debt profile.
The Ex-CBN director noted that building new refineries had become necessary considering the size and population of the country.
