Joseph Bakare
The Federal Government has denied some media report insinuating plans to reintroduce Petrol subsidy.
The report was rife as filling stations across the country since Monday introduced skeletal services in anticipation of unconfirmed plans to raise pump prices of Premium Motor Spirit, PMS, also known as Petrol to N720 a liter.
The Senior Special Assistant to the President on Media and Publicity, Tope Ajayi, on his official Twitter account, said that there is no condition to support fuel price increase at this time.
Ajayi said, “There is no plan to reintroduce any form of fuel subsidy. There is no condition to support any increase in prices at this time. President Tinubu is convinced based on information before him that we can maintain current pricing without reversing the current deregulation policy by swiftly cleaning up existing inefficiencies within the midstream and downstream Petroleum sector.”
On its part the NNPCL, said that it is not planning to increase fuel pump prices at its retail stations.
The oil firm made the denial in its statement on its Twitter account.
“Dear esteemed customers, we at NNPC Retail value your patronage, and we do not have the intention to increase our PMS pump prices as widely speculated. Please buy the best quality products at the most affordable prices at our NNPC Retail Stations nationwide.”
Also, President Tinubu’s Special Adviser on Media and Publicity, Ajuri Ngelale, noted that the market has been deregulated and will remain so.
He emphasized that government would address the inefficiencies within the midstream and downstream petroleum subsectors to maintain prices where they are without having to resort to a reversal of the administration’s policy in the petroleum industry.
