By YANGE IKYAA
The minister of state for petroleum resources, Timipre Sylva, has assured Nigerians that there would be no increase in the price of premium motor spirit, popularly known as petrol in Nigeria.
Sylva made this known in a statement released on Friday and in which he also advised Nigerians to avoid panic buying.
“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 statement read in part.
“The current price of petrol will be retained in the month of June until the ongoing engagement with organized labour is concluded,” it further read.
This clarification, he said, became necessary in the light of recent reports regarding the resolution of the Nigerian Governors Forum to increase the pump price of petrol.
“In this regard, I would like to strongly urge petroleum product marketers not to engage in any activities that could jeopardize the seamless supply and distribution system in place, while calling on members of the public to avoid panic buying because the Nigerian National Petroleum Corporation (NNPC) has enough of petroleum products to keep the nation wet,” the minister assured.
