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Federal Govt Battles Market Forces To Stabilise Petrol Pump Price

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The petrol pump price has risen twice since subsidy was removed, moving from N185 to over N500 in May, and later to N617 in July, thus leading to a

Presidential spokesman, Ajuri Ngelale, who disclosed this to State House correspondents, said the official stance is that there will be no price increase at present.

The presidential spokesman argued that the cost of petrol is still much cheaper in Nigeria than in other West African countries. Ngelale presented a graphic chart to compare the prices of PMS in Nigeria and other West African nations. According to him, Nigeria is not yet at the end of the tunnel. However, he asked citizens to be patient with the government even as he pledged that the Tinubu administration will be transparent with Nigerians on issues around fuel administration.

A highly reliable source told LEADERSHIP that although there has not been any official confirmation to that effect, the rumour is rife that the government is contemplating reconsidering the subsidy regime. “Citizens have been pushed to the limit, an unbearable point. The citizens cannot bear any further fuel price increment.”

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