Nigerians have been given assurance from the Buhari administration on Friday, stating that it would not raise the pump price of petrol in June, as the current template will remain in force till further notice.
This disclosure was contained in a statement signed by Minister of State (Petroleum), Chief Timipre Sylva.
The Minister said in the statement that, the Buhari government was not in a hurry to raise the pump price of petrol.
The full statement…
No Fuel Price Increase in June
“Once again, it has become necessary to assure Nigerians that despite the huge burden of under-recovery, the Federal Government is not in a hurry to increase the price of Premium Motor Spirit (petrol) to reflect current market realities.
The current price of petrol will be retained in the month of June until the ongoing engagement with organized labour is concluded.
This clarification becomes necessary in the light of recent reports regarding the resolution of the Nigeria Governors Forum to increase the pump price of petrol.
In this regard, I would like to strongly urge petroleum products marketers not to engage in any activity that could jeopardize the seamless supply and distribution system in place.
I also urge members of the public to avoid panic buying because the Nigerian National Petroleum Corporation (NNPC) has enough stock of petroleum products to keep the nation wet.
Signed:
H. E. Timipre Sylva,
Hon. Minister of State for Petroleum
Abuja.
21st May, 2021.
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