Friday, February 23, 2024
HomePoliticsNEWSPresident Tinubu Allegedly Considering Reintroducing Petrol Subsidy

President Tinubu Allegedly Considering Reintroducing Petrol Subsidy

President Bola Tinubu is reportedly considering a “temporary subsidy” on petrol as crude oil prices and foreign exchange rates continue to rise.

Presidential sources told reporters that the proposal is “firmly on the table” and the “realistic” amount of petrol consumed in the country is now known following the removal of subsidy shortly after Tinubu’s inauguration. One of the sources noted that the amount spent on subsidies “can now be controlled”.

This is coming after the Nigerian National Petroleum Company (NNPC) Limited said there are no plans to hike pump prices despite the rise in crude oil prices, landing cost, and fall in the value of the naira.

Also, Read

BREAKING: Inflation Rate Jumps To 24.08% In July As Food Prices Rise

ALSO READ:  Igbo Speaking Community Who Are Indigenous Of Akwa Ibom’s
Mary Ama
Mary Ama
A passionate writer with the sauce. I do that to get you entertained without a 404 page.

Leave a Reply

- Advertisment -

Most Popular

Recent Comments

%d bloggers like this: