President Bola Tinubu has moved to allay fears of a potential increase in the pump price of petrol in Nigeria.
The market has already been deregulated, and according to the Special Adviser to the President on Media and Publicity, Ajuri Ngelale, it will continue to remain so.
He said that the government aims to address inefficiencies in the midstream and downstream petroleum subsectors without reverting to a policy reversal.
This declaration follows the Nigerian National Petroleum Company’s (NNPC) statement that it has no plans to raise petrol prices, countering speculations and responding to warnings from the Nigeria Labour Congress (NLC).
Previous price hikes have sparked outrage and nationwide protests, especially the last increase from N197 to N617.
