President Tinubu speaks on fuel subsidy return

President Bola Tinubu-led federal government has debunked the report that his administration has returned subsidies on the premium motor spirit (PMS), also known as petrol.

On May 29, President Tinubu declared the removal of fuel subsidies during his inauguration at Eagles Square in Abuja, The Nation reported.

However, the president's declaration has been confronted with major economic repercussions, and organised labour has staged a series of protests against the fuel subsidy removal.

Last week, the federal government was able to manage an arrangement with the labour union, including a provisional wage increment and other implementation of some palliative measures.

Recently, the oil marketers and some sections of the labour union alleged that Tinubu's administration had restored the fuel subsidy, which was contrary to its earlier position.

They claimed that the removal of the fuel subsidy because it was unexplainable for the fuel pump price to be stable in the face of fluctuations.

NNPC denies fuel subsidy has returned

But Mele Kyari, the Nigerian National Petroleum Company Limited (NNPCL)'s Group Chief Executive Officer (GCEO), said there was nothing like fuel subsidy at all.

NNPC denies fuel subsidy has returned But Mele Kyari, the Nigerian National Petroleum Company Limited (NNPCL)'s Group Chief Executive Officer (GCEO), said there was nothing like fuel subsidy at all.