Tinubu's Government Acts to Mitigate Fuel Price Hike

The Federal Government affirmed that President Bola Tinubu will not abandon Nigerians during the current rise in petrol prices. Minister of Information and National Orientation, Mohammed Idris, made this statement during a media briefing.

He explained that the Nigerian National Petroleum Company Limited (NNPCL) has decided to forgo part of its profits to provide temporary relief to consumers affected by increasing global fuel prices. Idris emphasized that this intervention does not signify a reversal of the petrol subsidy removal policy initiated by the Tinubu administration.

He noted that the President is attentive to the pressures faced by citizens due to unexpected developments in the international oil market. The NNPCL, while owned by the Federal Government, operates as a limited liability company and has the authority to adjust its profit margins to ensure national energy security.

Idris highlighted that the rise in fuel prices is a global issue, affecting many countries, and that the Nigerian government is responding appropriately.