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.
The Special Adviser to the President on Media and Publicity, Ajuri Ngelale, noted that the market has been deregulated and will remain so.
He stressed 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 petrol at the pump.
In a terse statement on Monday night, the company urged Nigerians to disregard speculations of a fresh hike in the price of the premium product, an apparent response to the Nigeria Labour Congress’ (NLC) warning.
The NLC President, Joe Ajaero, on Monday warned that it would embark on an indefinite strike in the event of another petrol price hike by the NNPC Limited.
The Federal Government-owned company has repeatedly increased pump prices of Premium Motor Spirit (PMS), or petrol, since the May 29 declaration of President Bola Tinubu that “fuel subsidy is gone”.
From around N185, the prices skyrocketed to around N500, and again up to N617 last month. sparking outrage which culminated in a nationwide protest two weeks ago.