LAGOS, Nigeria (VOICE OF NAIJA)- President Bola Tinubu is reportedly considering a “temporary subsidy” on petrol as crude oil prices and foreign exchange rates continue to rise.
According to Presidential sources to TheCable, 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.
This is following the Nigerian National Petroleum Company’s disclosure that 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.
Nigerians will be curious to see where this latest development might lead to as the current economic situation in the country has had tough impacts on the citizens.