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President Buhari says petrol will still remain N87 per liter

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*Apologises to Nigerians over fuel scarcity

President of Nigeria and Minister of Petroleum Resources, Muhammadu Buhari has promised Nigerians that there would be no increase in the pump price of petrol contrary to speculations of fuel hike.

There have been fears that the government may put an end to the fuel subsidy which will result to increase in the cost of fuel, as well as attending consequences.

However, speaking on Tuesday when he presented the 2016 budget to the joint session of the national assembly, Buhari said the price would remain at N87 “for now”. 

“Indeed tough decisions must be made but this does not mean that we would increase the level of pains being felt by Nigerians,” he said. 

He apologised to Nigerians for the lingering fuel scarcity, describing it as the “unfortunate result of speculators and resistance to change”.

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