No Fuel Price Increase In June – Sylva
The Minister of State for Petroleum, Timipre Sylva has restated that the Federal Government would not increase in Petroleum product until the engagement with the organised labour is concluded.
The Minister in statement said; ” 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.”, the ministry said.
According to him 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.
He urged petroleum products marketers not to engage in any activity that could jeopardize the seamless supply and distribution system in place.
Further the minister urged 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.
