President BOLA Tinubu has assured that the pump price of petrol will not be increased despite speculations about a possible hike due to the landing cost of premium motor spirit.
The President also emphasised that the policy of deregulation will continue to be implemented by his administration as no single entity will be allowed to control the market.
The Special Adviser to the President on Media and Publicity Ajuri Ngelale told state House correspondents that the President acknowledges the inefficiencies in the Downstream and upstream sector in the Oil and Gas industry and there is already an ongoing process to tidy up that critical sector.
President Tinubu says it is incumbent on all Stakeholders in the sector to hold their peace and he believes the threat of a nationwide strike by the Nigeria Labour Congress is premature, but urged them to rather to do fact finding into issues in the Downstream and upstream sector.
The official position is that there is no increase in prices at this time and that Mr. 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.
