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We’ll maintain petrol price without subsidy reversal — Tinubu

President Bola Tinubu said yesterday that the federal government would take measures to maintain the current pump price of Premium Motor Spirit, PMS, otherwise known as petrol, in the country without a reversal of its policy on subsidy removal.

NNPC Limited spokesman, Muhammad Garbadeen, said in the statement that the company had no intention to increase petrol price for the third consecutive time since the removal of petrol subsidy on May 29, 

“Dear esteemed customers, we at NNPC Retail value your patronage, and we do not have the intention to increase our PMS pump prices as widely speculated.

“Please buy the best quality products at the most affordable prices at our NNPC Retail Stations nationwide,” Garbadeen said.

Kenya reinstates fuel subsidy for 30 days to curb soaring prices
Meanwhile, the Kenyan government has reintroduced fuel subsidy to curb soaring prices of petrol, kerosene and diesel in the country.

The development came after months of violent anti-government protests over the burden of high living costs, with inflation also now reducing from 7.9 per cent in June to 7.3 per cent last month.

The Energy and Petroleum Regulatory Authority, EPRA, Kenya’s energy regulator, said Monday that oil marketing companies would be compensated from the Petroleum Development Fund.

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