President Bola Tinubu has assured Nigerians that the pump price of Premium Motor Spirit (PMS), otherwise known as petrol, would reduce following the removal of subsidy on the product.
Tinubu said the removal of the petrol subsidy is for the development of Nigeria.
The President said this during a meeting with the monarchs under the aegis of the National Council of Traditional Rulers of Nigeria (NCTRN) at the Presidential Villa in Abuja on Friday, June 9.
He appealed to the traditional leaders to persuade Nigerians to have faith and “that the pump prices of fuel will eventually come down”.
President Tinubu stated: “I am grateful that you are paying attention to what I have been doing. You have paid attention to the subsidy removal. Why should we in good heart and sense, feed smugglers and be Father Christmas to neighbouring countries, even though they say not everyday is Christmas?
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“The elephant that was going to bring Nigeria to its knees is the subsidy. A country that cannot pay salaries and we say we have potential to encourage ourselves. I think we did the right thing.”
While acknowledging concerns on the need for critical infrastructure across the country, Tinubu pledged that any roadblock on the way of the progress of Nigerians would be removed by his government.
“The lamentations about the capital projects, where is the money going to come from if we don’t protect our resources and our boundaries?
“You cannot have development without capital projects,” he added.
On the leadership of the 10th National Assembly, Tinubu urged the traditional rulers to counsel their subjects interested in elective positions on the need to manage their ambitions, and create harmony within the legislative house.
President Tinubu declared that he is ready to work with any elected representative from the National Assembly, stressing that the Nigeria project is of paramount importance to him.
“Nigeria must survive. Nigeria must develop. Nigeria must make progress,” the President stressed.
The Star recalls that Tinubu announced the removal of subsidy on petrol on May 29, 2023, when he took his oath of office as Nigeria’s President, saying there was no allocation for it in the 2023 budget beyond June.
Shortly afterwards, the Nigeria National Petroleum Company Limited announced the adjustment of pump price where NNPCL filling stations were selling fuel at N537 while others were selling from N540 and above.
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