Fuel price will not change until… FG assures

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The Minister of State for Petroleum Resources, Chief Timipre Sylva has said there will be no increment in the pump price of Premium Motor Spirit (PMS) until conclusion of consultation with Organized Labour.

Sylva who gave the assurance while addressing newsmen on Friday in Lagos said the clarification was necessitated by reports that the price of PMS, commonly known as petrol, had been increased to N212.61 per litre.

He said: ” Irrespective of the source of that information, I want to assure you that it is completely untrue.

“Neither Mr President who is the Minister of Petroleum Resources nor myself who deputize for him as minister of state has approved that petrol price should be increased by one naira.

“I therefore urge you to disregard this misleading information.”

According to him, for the past few months, the government has been in consultation with organized labour to find the least painful option to respond to the global rise of crude price which has inevitably led to increase in petrol prices.

He said it was unthinkable that government would unilaterally abandon these discussions and act in the manner suggested by the information under reference.

Sylva maintained that cynicism and deceit have never been the trademark of President Muhammadu Buhari’s administration.

“I will like to equally assure you that the engagement with the organized labour and other stakeholders will continue even as the calculations to arrive at a reasonable price regime are being done; all in good faith and you will be availed of the final outcome at the appropriate time.

“Until then, all marketers are strongly advised to maintain the current pump price of PMS before the emergence of this unfortunate information.

Read Also: Petrol price hits N212.61 per liter despite FG’s promise on increase

“Those who may want to take advantage of this unfortunate information to extort Nigerians should not give in to such temptations as there are regulatory mechanisms that government can enforce to protect its citizens.

“In conclusion, I want to sincerely apologise to all Nigerians for any distress and inconvenience the unfortunate information might have caused, “he said.