Tinubu to Nigerians: Petrol price won’t go up

President Bola Tinubu says there will be no increase in the pump price of Premium Motor Spirit (PMS), otherwise known as petrol, in the country.

Tinubu equally said the withdrawal of subsidy on petrol will not be reversed.

There were insinuations over the weekend that the Nigerian National Petroleum Company Limited (NNPCL) had concluded plans to adjust the current pump price of petrol.

The Organised Labour also threatened to embark on a nationwide strike without notice should there be a further price adjustment.

The NNPCL later said it had no plan to petrol pump price.

However, presidential spokesman, Ajuri Ngelale, while speaking with State House Correspondents at the Presidential Villa in Abuja on Tuesday, August 15, 2023, said: “There is no increase in prices at this time.

READ ALSO: NNPCL: We’re not increasing petrol price

“Mr. President is convinced, based on the information before him, that we can maintain current pricing without reversing our deregulation policy, by swiftly cleaning up existing inefficiencies within the midstream and downstream petroleum sectors.”

Speaking on the planned nationwide strike by the labour unions, Ngelale said the industrial action threat was premature.

The presidential spokesman added: “The President wishes, first, to state that it is incumbent upon all stakeholders in the country to hold their peace.

“We have heard, very recently, from the Organised Labour movement about their most recent threat.

“We believe that the threat was premature and that there is a need for all sides to ensure that fact-finding and diligence are done on what the current state of the downstream and midstream petroleum industry is before any threats or conclusions are arrived at or issued.

“Secondly, Mr. President wishes to assure Nigerians following the announcement by the NNPCL that there will be no increase in the pump price of PMS anywhere in the country.

“We repeat, the President affirms that there will be no increase in the pump price of PMS.”

In Lagos, petrol price per litre goes for between N568 to N570, while some South-West states sell between N580 and N590 per litre.

In some other states the price per litre is N617 and above.

The Star