FG Breaks Silence On Fuel Price Hike
The federal government has reacted
to reports that it is planning to increase fuel price next month.
However, the FG has promised not to
increase price of petrol.
A statement signed, Friday, in Abuja
by Minister of State for Petroleum, Timipre Sylva, insisted that despite the
burden continuous subsidy was having in its finances, there will be no increase
in fuel price.
“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
current price of petrol will be retained in the month of June until the ongoing
engagement with organized labour 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,” Sylva
assured.
He further urged 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.
