Federal Government says no petrol price increase till engagement with organised labour is concluded
The federal government has assured Nigerians that there would be no increase in the price of fuel until the engagement with organised labour is concluded.
The Minister of State for Petroleum, Timipre Sylva stated this in a statement released on Friday.
The statement read, “Once again, it has become necessary to assure Nigerians that despite the huge burden of under-recovery, the Federal Government isn’t in a hurry to increase the price of Premium Motor Spirit (Petrol) to reflect the 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 will like to strongly urge the petroleum product marketers not to engage in any activities that could jeopardize the seamless supply and distribution system in place while calling on 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.”