The Presidency has defended the Federal Government’s 30-day petrol price discount, saying the measure is intended to shield Nigerians from the immediate impact of fluctuations in global crude oil prices.
Special Adviser to President Bola Tinubu on Media and Public Communications, Sunday Dare, explained that the intervention was a temporary price modulation strategy and should not be interpreted as a return to the former fuel subsidy regime.
Dare said the initiative was designed to prevent sudden increases in petrol prices from triggering higher transport fares and adding pressure to household expenses.
He also pointed to other measures being pursued by the administration, including the expansion of Compressed Natural Gas infrastructure and domestic refining arrangements, as part of efforts to strengthen Nigeria’s energy security and reduce dependence on imported petroleum products.
The presidential aide defended the government’s decision to remove fuel subsidy and reform the foreign exchange system, describing the measures as necessary steps toward addressing longstanding structural problems in the economy.
Responding to criticism from former Vice President Atiku Abubakar, Dare said the proposal for a production subsidy failed to sufficiently account for Nigeria’s available crude oil volumes, existing contractual commitments and the possible cost to government finances.
He urged Nigerians to evaluate the administration’s economic policies within the context of their long-term objectives, rather than viewing the temporary petrol discount in isolation.
According to him, the current intervention is part of the government’s broader efforts to manage short-term price pressures while pursuing reforms aimed at improving the country’s energy and economic stability.
