Tinubu assures Nigerians there will be no increase in petroleum costs

President Bola Ahmed Tinubu has assured Nigerians that the price of gasoline will not increase in any region of the country.

No increase in the price of gasoline at the pump in any region of the country.

This was stated by presidential spokesman Ajuri Ngelale on Tuesday, citing President Tinubu.

According to Ngelale, the market has been and will continue to be deregulate.

The government will resolve inefficiencies in the midstream and downstream petroleum subsectors, he emphasized.

He stated that this action is intended to maintain current prices without reversing the administration’s petroleum industry policy.

This comes less than twenty-four hours after the Nigerian National Petroleum Company (NNPC) Limited stated that it has no plans to increase the price of gasoline at the pump.

In response to the Nigeria Labour Congress’s (NLC) warning, the NNPC issued a statement on Monday night urging Nigerians to disregard rumors of a fresh increase in the price of gasoline.

Joe Ajaero, the president of the Nigeria Labour Congress (NLC), warned on Monday that the organization would go on an indefinite strike if the NNPC raised the price of gasoline again.

Since Tinubu’s announcement on May 29 that fuel subsidies are no longer in effect, NNPC has repeatedly raised gasoline prices at the pump.

The prices increased from approximately N185 to approximately N500 and then to N617 in July, which prompted outrage and led to a nationwide protest two weeks ago.