President Bola Tinubu has affirmed that pump price of petrol will not be increased for now.
The Special Adviser to the President on Media and Publicity, Mr. Ajuri Ngelale, echoed the President’s declaration, while briefing State House correspondents on the speculations that increase in the pump price of petrol is in the offing.
Amid the fears generated by the wide spread speculation that increase in the pump price of petrol is imminent, the Nigeria Labour Congress has vowed to go on strike if that truly happens.
While briefing newsmen, the Special Adviser to the President on Media and Publicity, Mr. Ajuri Ngelale, said the President had also pledged to clear the hurdles creating instability in the supply chain of petrol.
“He’s saying that the price of PMS will not go up, and he’s saying that it can be priced to the present pump price if we’re able to quickly clean up the inefficiencies, which he has clearly identified”, he added.
He however cautioned that government’s reaction to the situation was not in any way a reversal to fuel subsidy.
“We believe that without going into the territory of controlling the market, the President wants to maintain competitive tension, we’re not looking at re-installing a subsidy regime that we’ve worked so hard to come out of”, Mr. Ngelale said.
Mr. Ngelale explained that the government would be following trends in the free market and act appropriately.