In a bid to address growing concerns and speculations about a potential fuel price hike in Nigeria, President Bola Ahmed Tinubu has assured the nation that there will be no increase in the pump price of fuel. Speaking to reporters at the Presidential Villa, Tinubu emphasized his commitment to alleviating economic hardships faced by Nigerians, stating that his administration is actively working to stabilize the economy.
Tinubu’s statement comes in response to recent warnings from oil marketers about the possible rise in fuel prices due to the consistent slide in the value of the naira against the dollar. These concerns had prompted the Nigeria Labour Congress (NLC) to threaten a nationwide strike without formal notice if the pump price of petrol increased again. The NLC’s President, Joe Ajaero, also urged the Federal Government to address the issue of inflation and devaluation, asserting that these factors directly impact citizens’ purchasing power.
With his assurance, Tinubu seeks to allay the fears of the public and reiterate his administration’s commitment to protecting the interests of the Nigerian populace. As the nation faces economic challenges exacerbated by external factors such as the naira’s devaluation, Tinubu’s reassurance aims to restore confidence and mitigate potential disruptions to the economy while the government continues to engage with stakeholders to find sustainable solutions.
