The Federal Government has said it does not have any plan to increase the pump price of fuel in the month of June, 2021.
The minister of State for Petroleum, Timipre Sylva, who made this known in a statement he personally signed, said it became necessary to assure Nigerians that the government will not hike duel price 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 organised labour is concluded,” Sylvia assured.
The minister said the clarification became 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 jeopardise the seamless supply and the 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 said.
