Minister of State for Petroleum, Timipre Sylva
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By Our Reporter
The Minister of State for Petroleum, Timipre Sylva has said there would be no increase in the price of fuel in June. The minister stated this in a statement made available to NATIONAL WAVES. He added 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.
he averred that ‘The current price of petrol will be retained in the month of June until the ongoing engagement with organized labour is concluded’.
He said that 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’. said Sylva
He also urged members of the public to avoid panic buying, according to him, ‘the Nigerian National Petroleum Corporation (NNPC) has enough stock of petroleum products to keep the nation wet’.
