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Aliyu Audu, Senior Special Assistant to President Bola Ahmed Tinubu on Public Affairs, has clarified that the President refrained from discussing the price of petrol due to his dedication to deregulating the oil and gas industry.
Audu made this statement during an interview with Channels Television, as reported by DAILY POST on Wednesday.
He emphasized that Tinubu is focused on offering alternative energy sources, such as Compressed Natural Gas (CNG), to replace petrol. Despite the ongoing Naira-for-crude agreement with Dangote Refinery, Audu warned that significant reductions in petrol prices are unlikely.
“This reflects President Tinubu’s commitment to deregulating the petroleum sector,” he noted. “He has mentioned alternatives that could alleviate our economic challenges, particularly regarding living costs and the CNG initiative.”
Audu acknowledged that while Nigerians are eager for lower petrol prices, the reality requires exploring new methods to fuel vehicles. “That’s why the government is prioritizing the CNG initiative,” he added.
In his address on Nigeria’s 64th Independence Day, Tinubu urged citizens to be patient as the government works to address the nation’s economic difficulties.
Currently, petrol prices in Nigeria range from N950 to N1,300, varying by location, while the costs of goods and services have surged, with headline inflation at 32.15% and food inflation at 37.52% as of August 2024.
