Says no increment in price of PMS for now
Admin l Friday, May 21, 2021
ABUJA, Nigeria – The Minister of State for Petroleum, Chief Timipre Sylva has said that there will be no increment in the pump price of petrol for the month of June.
In a statement, the minister 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”, he 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.
“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”, the minister said.
