President Bola Ahmed Tinubu has restated that there will be no upward adjustment in Petroleum Motor Spirit (PMS) pump prices across the nation, concurrently appealing to citizens for patience as they acclimate to the new administration’s initiatives.
In an interaction with State House Correspondents today at the Presidential Villa in Abuja, the Special Adviser on Media and Publicity, Ajuri Ngelale, conveyed that President Tinubu is focused on addressing the inefficiencies spanning the supply, demand, and distribution facets of the downstream sector.
This clarification comes as a response to dispel media speculations concerning a possible temporary subsidy on crude oil prices.
Ngelale further elucidated that the policy of Petroleum Deregulation remains intact, emphasizing that President Tinubu is resolute in enacting measures targeted at resolving concerns within different segments of the petroleum industry.
Reflecting on the President’s earlier directive, which urged the Central Bank of Nigeria to tackle inefficiencies within the foreign exchange market to prevent PMS pump price escalation, the presidency underlined that the Nigerian National Petroleum Corporation Limited (NNPCL) provides daily updates. This included presenting graphics showcasing PMS pump prices across the West African sub-region. The presidency urged Nigerians to continue exhibiting patience as the administration diligently strives to enhance the quality of life for its citizens.