The federal government has assured that despite the huge burden of under-recovery, it has no plan to increase the price of premium motor spirit (petrol) to reflect current market realities.
A statement signed by the Minister of State for Petroleum Resources, Timipre Sylva, on Friday said, “The current price of petrol will be maintained in the month of June until the o going engagement with organised labour is concluded.”
The statement noted that the clarification became necessary in the light of recent reports regarding the resolution of the Nigerian Governors Forum (NGF) to increase the pump price of petrol.
Urging petroleum product marketers not to engage in any activity that could jeopardise the seamless supply and distribution system in place, the Minister called on members of the public to avoid panic buying because the Nigerian National Petroleum Corporation (NNPC) has enough stock of petroleum products to feed the country.
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