President Bola Tinubu on Tuesday said that the government will take measures to maintain the current pump price of Premium Motor Spirit, PMS, in the country without a reversal of its policy on subsidy removal.
The President also said that the threat by the Nigeria Labour Congress, NLC, to shut down the economy over rumoured plan to increase the fuel price was premature and said it was incumbent on all stakeholders to maintain their peace.
He said that there will be no increase in the price in any part of the country.
The Special Adviser to the president on Media and Publicity, Ajuri Ngelale, disclosed briefing while briefing State House correspondents at the Presidential Villa, Abuja.
The media briefing was after the presidential spokesman had met with the president on the issue following the threat by the NLC to go on strike without notice if the fuel price is increased again.
According to him, the official position is that there is no increase in prices at this time as “the president is convinced based on 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 sector.”
He said it is incumbent on all stakeholders to hold their peace and endeavour to do due diligence to ascertain the true position.
According to him, the president is intent on maintaining competitive tension to ensure that no single individual or organization dominates the sector.
Ngelale said the government will address the inefficiencies in the midstream and downstream petroleum value chains so that the price can be stabilized.
