On Tuesday, Tope Ajayi, the Senior Special Assistant to President Bola Tinubu on Media and Publicity, clarified that there were no intentions within President Tinubu’s administration to reintroduce fuel subsidy.
![](https://thenigerialawyer.com/wp-content/uploads/2024/11/TheNigerialawyer-WhatsApp-Channel1.jpg")
Ajayi made this statement via X, previously known as Twitter, at 6:08 pm WAT.
He stated, “There is no intention to reintroduce any form of fuel subsidy. There are no conditions supporting any price increase at this juncture. President Tinubu is confident, based on available information, that we can maintain the current pricing without reverting the ongoing deregulation policy.
This can be achieved by promptly addressing the existing inefficiencies in the midstream and downstream Petroleum sector.”
Ajayi’s remarks came in response to reports speculating a temporary reintroduction of fuel subsidy, prompted by the rise in the landing cost of fuel due to the depreciation of the Naira in the parallel market.
Nigeria has been grappling with escalating costs of goods and services since the removal of petrol subsidy and the Central Bank of Nigeria’s move to unify the naira exchange rate in both the I and E window and the parallel markets.
On Monday, independent oil marketers hinted at the possibility of a fuel price increase due to the upward shift in the product’s landing cost.
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