President Tinubu says Nigeria’s ‘exorbitant’ petrol price will soon be ‘greatly reduced’

President Bola Ahmed Tinubu has promised that very soon the current exorbitant prices of petrol would be substantially reduced and has vowed to find a lasting solution to the tough times facing Nigerians acknowledging that he is aware of the myriad of socio-economic and political problems Nigerians are facing.

He stated this Saturday at the 11th Convocation Ceremony of the Michael Okpara University of Agriculture, Umudike (MOUAU), Abia State, where four sets of graduands participated in the ceremony.

Tinubu, who was represented by the Executive Secretary of the Agricultural Research Council of Nigeria (ARCN), Professor Garba Sharubutu, said he was not resting on his oars in his efforts to eliminate the current hardships in the country.

“Our policy instruments are being fine-tuned with the view to dealing firmly with the causes and not the symptoms of the problems,” he said.

“Mr. President promised that very soon the current exorbitant prices of the Premium Motor Spirit (PMS) popularly known as petrol would be “greatly reduced,” he added.

The president hinged his optimism on crashing fuel prices in no distant time on his belief that “very soon, some of our local refineries will start production.”

“He said part of the supplementary budget already approved by the National Assembly “will be applied to bring interventions at critical segments of the agricultural sector.”

Tinubu who expressed delight at performing his maiden duty as a Visitor to MOUAU, commended the institution for its exploits on academics and infrastructural development despite the many challenges facing the nation.