Tinubu Support Group Defends Petrol Relief Initiative
The Tinubu Support Group (TSG) has responded to former Vice President Atiku Abubakar's criticism of the federal government's 30-day petrol relief initiative. TSG insists that this initiative is designed to ease the financial burden of rising fuel prices on Nigerians.
Dr Umar Tanko Yakasai, the director-general of TSG, stated that the Nigerian National Petroleum Company Limited (NNPCL) has decided to temporarily forgo its petrol retail profit margin as a short-term intervention to mitigate the impact of high fuel prices on transportation costs. Yakasai clarified that this arrangement, which allows NNPC Retail to sell petrol at cost for an initial 30 days, is fundamentally different from the previous subsidy system that was abolished in May 2023.
He emphasized that President Tinubu recognizes the pressure rising petrol prices place on households, workers, traders, and businesses, and this intervention is part of broader economic reforms to provide immediate relief.
Plus234Feed summary based on reporting from Leadership Newspaper. Read the original report below.
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