US-Iran war: FG rules out petrol price controls despite global oil volatility

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Mr.Simon

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Mar 11, 2026
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The Federal Government has reaffirmed its commitment to market-based petrol pricing, saying it will not introduce price controls despite rising geopolitical tensions in the Middle East that have heightened volatility in global oil markets.

The Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, said this during an interview aired on Wednesday on Politics Today on Channels Television.

According to the minister, the administration would explore alternative ways to ease the cost-of-living pressure on Nigerians rather than reversing key market reforms.
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Mr.Simon said:
The Federal Government has reaffirmed its commitment to market-based petrol pricing, saying it will not introduce price controls despite rising geopolitical tensions in the Middle East that have heightened volatility in global oil markets.

The Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, said this during an interview aired on Wednesday on Politics Today on Channels Television.

According to the minister, the administration would explore alternative ways to ease the cost-of-living pressure on Nigerians rather than reversing key market reforms.
#copied
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Let’s hope the alternative measures they’re considering will genuinely ease the pressure on Nigerians, because the cost of living is still a major concern for many people.
 
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