President Tinubu Gives Fresh Update On Hike Of Fuel Price

President Bola Ahmed Tinubu has assured Nigerians that there will be no increment in the price of fuel.

He disclosed that his administration is already taking steps that would ensure there is no increase of fuel prices in the country without having to reverse the nation’s decision to exit the subsidy regime.

Tinubu gave the assurance on Tuesday while addressing newsmen in the Presidential Villa, Abuja via his Special Adviser on Media and Publicity, Ajuri Ngelale.

According to Ngelale, Tinubu is taking steps to clean up inefficiencies within the petroleum industry.

Speaking further, Ngelale stated that the threat by the Nigerian Labour Congress (NLC) to go on an indefinite nationwide strike if the prices of PMS increased was premature, urging all stakeholders to be circumspect in reacting to the current situation in the country

According to Ngelale, “The official position is that there is no increase in prices at this time and that Mr. President is convinced based on the information before him that we can maintain current pricing without reversing our deregulation policy by swiftly cleaning up existing inefficiencies within the midstream and downstream Petroleum sector.

“The president wishes, first, to state that it is incumbent upon all stakeholders in the country to hold their peace. We have heard, very recently, from the organized Labour movement in the country with respect to their most recent threat.

“We believe that the threat was premature and that there is a need on all sides to ensure that fact-finding and diligence is done on what the current state of the downstream and midstream petroleum industry is before any threats or conclusions are arrived at or issued.

“Secondly, Mr President wishes to assure Nigerians following the announcement by the NNPC limited just yesterday, that there will be no increase in the pump price of premium motor spirit anywhere in the country. We repeat, the President affirms that there will be no increase in the pump price of premium motor spirit.”