The Nigerian Presidency has officially stated that President Bola Tinubu will not intervene in the ongoing fuel price dispute involving Dangote Refinery and the Nigerian National Petroleum Company Limited (NNPCL).
This announcement was made by Bayo Onanuga, the Special Adviser to the President on Information and Strategy, during a press briefing at the Presidential Villa.
Onanuga emphasized that both Dangote Refinery and NNPCL operate independently within a deregulated market framework, highlighting the government’s commitment to market dynamics.
“In a deregulated environment, it is essential that both entities function without external interference. The administration respects the principles of market independence,” Onanuga asserted.
The controversy surrounding fuel prices has escalated in recent weeks, with consumers expressing concerns over rising costs. Despite the public outcry, the government reiterated its stance, indicating that intervention could undermine the operational autonomy of the companies involved.
In related news, Onanuga confirmed that President Tinubu is preparing to undertake a cabinet reshuffle, which is anticipated to focus on performance metrics.
“The reshuffling will be based on evidence of performance and will aim to enhance the effectiveness of the administration,” he stated, indicating that changes are forthcoming but without specifying a timeline.
The dual announcements reflect the government’s strategy to maintain a balance between regulatory oversight and market autonomy while ensuring that the administration remains responsive to its performance and public concerns.
