President Bola Tinubu told Nigerians on Tuesday that there will be no increase in the price of Premium Motor Spirit (PMS) or petrol at the pump wherever in the country.
Ajuri Ngelale, Special Adviser to the President on Media and Publicity, stated that the market is deregulated and will remain so.
He emphasized that the government will address inefficiencies in the midstream and downstream petroleum subsectors in order to keep prices stable without having to reverse the administration’s petroleum policy.
This comes less than 24 hours after the Nigerian National Petroleum Company (NNPC) Limited stated that it had no plans to increase the price of gasoline at the pump.
In a brief statement issued late Monday night, the business advised Nigerians to reject reports of a new price increase for the premium product, a clear response to the Nigeria Labour Congress’ (NLC) threat.
The NLC President, Joe Ajaero, warned on Monday that if the NNPC Limited raises the price of gasoline again, the union would go on indefinite strike.
Since President Bola Tinubu declared on May 29 that “fuel subsidy is gone,” the Federal Government-owned firm has raised pump pricing of Premium Motor Spirit (PMS), or petrol.
Prices rose from roughly N185 to around N500, and then again to around N617 last month. causing uproar that culminated in a nationwide protest two weeks ago.
