The Federal Government has assured Nigerians that there would be no fuel price increase in June 2021.
The Minister of State for Petroleum Resources, Timipre Sylva disclosed this on Friday in a press statement via the Ministry’s official Twitter handle.
“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 Minister noted that the current price of petrol will be retained in the month of June until the ongoing engagement with organized labour is concluded.
He explained that the clarification became necessary due to 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.
“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 added.
Press Release
No #Fuel Price Increase in June
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 pic.twitter.com/2eRGO2Txqo— Ministry of Petroleum Resources, Nigeria (@FMPRng) May 21, 2021
PIAK
