President Bola Tinubu has assured Nigerians that there will 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 there are 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 within neighbouring 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.
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