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.
The President’s guarantee comes less than 24 hours after the Nigerian National Petroleum Company (NNPC) Limited announced it had no plans to hike the price of gasoline at the pump.
BizWatch Nigeria recalls that NNPC via a statement on Monday asked Nigerians to avoid rumors of a new price increase for the premium product, an apparent response to the Nigeria Labour Congress’ (NLC) warning.
