Tinubu won’t abandon Nigerians amid fuel price hike — FG

President Bola Tinubu has pledged to support Nigerians amid the recent surge in petrol prices, according to the Federal Government. Speaking at a media briefing, the Minister of Information and National Orientation, Mohammed Idris, defended the decision by the Nigerian National Petroleum Company Limited (NNPCL) to offset a portion of its profits to alleviate the impact of the price increase.

Idris emphasized that the President is keenly aware of the challenges faced by Nigerians and would not remain indifferent to their difficulties caused by unforeseen developments in the international oil market. He added that the NNPC, owned by the Federal Government, operates as a limited liability company with the right to adjust its profit margins for the nation's energy security.

Idris emphasized that the intervention was a temporary measure to help consumers adjust to the new economic realities, and not a reversal of the subsidy removal policy introduced by the Tinubu administration.