Minister of state for petroleum resources, Timipre Sylva, has stated there can be no increment in the pump price of premium motor spirit (PMS) till the conclusion of talks with organised labour.
This comes as a reaction to the new pricing template revealed by the Petroleum Products Pricing Regulatory Agency (PPPRA) which pegged the new pump price of petrol at N212.61 per litre.
Sylva enjoined Nigerians to dismiss the rumoured increment in petrol price.
The minister stated: “Regardless of the source of that info, I need to guarantee you that it’s fully untrue.
“Neither Mr President who is the Minister of Petroleum Resources nor myself who deputise for him as minister of state has approved that petrol price should be increased by one naira.
“I, subsequently, urge you to ignore this deceptive info.”
According to the minister, the federal government has been in consultation with organised labour to search out the least painful option to reply to the global rise of the crude value which has led to surging petrol prices.
He added: “I’ll prefer to equally assure you that the engagement with the organised labour and other stakeholders will continue even as the calculations to arrive at a reasonable price regime are being achieved; all in good faith and you’ll be availed of the outcome on the appropriate time.
“Till then, all marketers are strongly suggested to maintain the current pump price of PMS before the emergence of this unfortunate information.
“Those who could wish to benefit from this unfortunate information to extort Nigerians shouldn’t give in to such temptations as there are regulatory mechanisms that the government can implement to guard its citizens.
“In conclusion, I want to sincerely apologise to all Nigerians for any distress and inconvenience the unfortunate information might have prompted.”