On Wednesday, the Presidency announced that President Bola Tinubu will not intervene in the ongoing fuel price dispute between Dangote Refinery and the Nigerian National Petroleum Company Limited (NNPCL).
According to Vanguard, Mr. Bayo Onanuga, Special Adviser to the President on Information and Strategy, emphasized that both companies operate independently within a deregulated market.
Onanuga stated, “The PMS (Premium Motor Spirit) field… has been deregulated. Dangote is a private company. NNPCL should not forget it’s a limited liability company.” He highlighted that any issues arising between the two entities are their responsibility, asserting that, despite being government-owned, NNPCL functions autonomously as a limited liability company....Read Full Article [Click Here>]
The government will not intervene, but Onanuga noted plans to promote alternative energy solutions like Compressed Natural Gas (CNG), which is significantly cheaper at approximately N230 per litre compared to PMS at around N850. “If you don’t want to use PMS, you can use CNG,” he said, emphasizing that transporters are already converting to CNG to reduce costs.
Additionally, the administration plans to encourage states to develop urban transportation systems, stating, “Only Lagos state has an urban transport system… Any modern city should have an urban transport system.”
