The Federal Government has clarified that it is not responsible for the recent hike in the pump price of petrol, following widespread reactions from Nigerians urging President Bola Tinubu to reverse the increase.
Speaking with journalists, Minister of Information and National Orientation, Mohammed Idris, explained that the decision was made by the Nigerian National Petroleum Company Limited due to prevailing conditions in the global energy market.
Idris emphasized that the federal government no longer controls the pricing of petroleum products, in line with the Petroleum Industry Act (PIA).
He further attributed the price hike to external factors, including the ongoing crisis in the Middle East, which has caused market volatility.
The minister called for public understanding, assuring that despite the temporary challenges, the prices of petrol would eventually stabilize and come down in the future.
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