There Will Be No Fuel Price Hike, Tinubu Assures Nigerians
President Bola Ahmed Tinubu has come under criticism for his over bloated cabinet
President Bola Ahmed Tinubu has assured Nigerians that there will be no increase in the pump price of petrol in any part of the country.
Presidential spokesman Ajuri Ngelale said this on Tuesday, quoting President Tinubu.
According to Ngelale, the market has been deregulated and will remain so.
He stressed that government will address the inefficiencies within the midstream and downstream petroleum subsectors.
He said this move is to maintain prices where they are without having to resort to a reversal of the administration’s policy in the petroleum industry.
This comes less than 24 hours after the Nigerian National Petroleum Company (NNPC) Limited said it is not planning to raise the pump price of petrol.
The NNPC, in a statement on Monday night, reacting to the Nigeria Labour Congress (NLC) warning, urged Nigerians to disregard speculations of a fresh hike in the price of petrol.
NLC President, Joe Ajaero, had warned on Monday that it would embark on an indefinite strike in the event of another petrol price hike by the NNPC.
There had been repeated increase in pump prices of petrol by NNPC, since the May 29 declaration of Tinubu that fuel subsidy is no more.
From around N185, the prices moved up to around N500, and again up to N617 in July which sparked outrage and also led to a nationwide protest two weeks ago.