The Presidency has dismissed reports of plans to temporarily re-introduce petrol subsidy.

The Senior Special Assistant to the President on Media and Publicity, Tope Ajayi in a tweet, said the President Bola Tinubu-led administration will “maintain current pricing without reversing the deregulation policy”.

The clarification comes after reports said the government was considering a short-term reintroduction of fuel subsidy due to the increment in the landing cost of petrol and the sharp devaluation of the Naira in the parallel market.

Just recently, Kenya re-introduced subsidies on petrol, kerosene and diesel, after a sharp hike in the cost of living for many of its citizens.