There Will Be No Further Increase In Petrol Price: Tinubu.

President Bola Tinubu has assured Nigerians that there will be no further increase in the pump price of Premium Motor Spirit (PMS), also known as petrol, anywhere in the country.

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NNPCL disclosed this in a statement posted on its social media handles on Monday.

“Dear esteemed customers, we at NNPC Retail value your patronage and do not intend to increase our PMS pump prices as widely speculated. Please buy the best quality products at the most affordable prices at our NNPC Retail Stations nationwide,” it said.

Also, on Tuesday, the Special Adviser to the President on Media and Publicity, Ajuri Ngelale, asserted that the market has been deregulated and will remain so.

He explained that government will address the inefficiencies within the midstream and downstream petroleum subsectors to maintain prices without reversing the administration’s policy in the petroleum industry.

The reactions come amid speculation of an upward review of fuel pump prices.

Meanwhile, the Nigeria Labour Congress (NLC) has threatened to declare a nationwide strike if there is a further hike in the pump price of petrol from the existing N617 naira.

It vowed to proceed with the total, comprehensive and indefinite nationwide shutdown.

There Will Be No Further Increase In Petrol Price: Tinubu.

The NLC President, Joe Ajaero, made this known while speaking at the African Trade Union Alliance Meeting in Abuja, where Labour warned against undermining the union’s demands.

Oil marketers had indicated that the cost of petrol would rise to between N680/litre and N720/litre in the coming weeks should the dollar continue to trade for as high as N910 to N950 at the parallel market.

They also hinted that dealers seeking to import petrol were being forced to put the plans on hold due to the scarcity of foreign exchange to import the commodity.