PRESIDENT TINUBU SAYS NO PLAN TO INCREASE FUEL PRICE

15/08/23

SHINA JO

President Bola Tinubu has assured Nigerians that there would be no increase in the pump price of premium motor spirit.

This follows reports about a potential increase in petroleum pump prices, from the current ₦617 per litre to between ₦720 and ₦750 in the coming weeks.

In a Chat with State house correspondents on Tuesday, Special adviser to the president on Media and Publicity Ajuri Ngelale said no plans by the Tinubu administration to increase pump price.

While acknowledging inefficiencies in the midstream and downstream sectors, president Tinubu says there will be no reversal of the deregulation policy of the sector just as he maintains Nigeria’s pump prices remain the most affordable with neighboring West African countries

The President called for patience as the Nation navigates challenges and vowed to remain transparent about the issues, including foreign exchange illiquidity due to past mismanagement of the Central Bank of Nigeria.

The Nigerian National Petroleum Company Retail has announced that it has no intention of increasing Petrol pump prices as mentioned in some quarters.

The retailer
assured it’s customers of selling quality product at most affordable prices at it’s retail stations nationwide.
Some Independent marketers had raised the possibility of an increase but NNPC .

Pump price increase
NNPC Retail says it is not contemplating such move.