tinubu said petrol price will be steady,no subsidy rollback
Written by Taiwo Adekola on August 16, 2023
President Bola Tinubu said yesterday that the federal government would take measures to maintain the current pump price of Premium Motor Spirit, PMS, otherwise known as petrol, in the country without a reversal of its policy on subsidy removal.
He also said the threat by the Nigeria Labour Congress, NLC, to shut down the economy over rumoured plan to further increase fuel price was premature, stressing that it was incumbent on all stakeholders to maintain their peace.
Special Adviser to the president on Media and Publicity, Ajuri Ngelale, disclosed these while briefing State House correspondents at the Presidential Villa, Abuja, shortly after meeting with President Bola Tinubu on the issue, especially following threats by Nigeria labour Congress, NLC, to go on strike without notice, if fuel price was again increased.
According to him, the official position is that there is no increase in prices at this time as “the president is convinced, based on 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 to stabilise price.”
The presidential spokesman presented a chart to prove that the cost of petrol was still much more cheaper in Nigeria than in other West African countries.