FG assures Nigerians no increase in the pump price of petrol

FG assures Nigerians no increase in the pump price of petrol

There is news about a possible increase in the pump price of petrol.

Timipre Sylva Minister of Petroleum Resources has assured the Nigerian populace that in June there will be no increase in the pump price of petrol.

Following resolutions reached at a meeting of governors, this week speculations concerning a fresh hike in petrol pump price have been rife.

pending the outcome of further discussions with organized labor, Sylva In a statement, Sylva said the petrol pump price will stay the same in June.

He said, “The current price of petrol will be retained in the month of June until the ongoing engagement with organized labor 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,” he adds.

The Muhammadu Buhari-led federal government has repeatedly maintained that it can no longer sustain a corruption-riddled subsidy regime, because of its strain on the nation’s purse strings.