No Plan To Reintroduce Fuel Subsidy – Presidency Assures Nigerians

Plans are not underway by the President Bola Tinubu-led government to reintroduce fuel subsidy, Senior Special Assistant to the President on Media and Publicity, Tope Ajayi, has said.

Ajayi said this while reacting to a report that the president was considering temporary subsidy on petrol as a result of rising crude oil prices and foreign exchange rates.

In a post via social media platform, X, Ajayi debunked the report.

“There is no plan to reintroduce any form of fuel subsidy. There is no condition to support any increase in prices at this time.”

“President Tinubu is convinced based on information before him that we can maintain current pricing without reversing the current deregulation policy by swiftly cleaning up existing inefficiencies within the midstream and downstream Petroleum sector,” he wrote.

Earlier, Tinubu had assured Nigerians that there will be no increase in the pump price of petrol.

Speaking through Ajuri Ngeale, his spokesman, Tinubu told Nigerians that there won’t be any increment for now.

-Dailytrust