The Minister of State for Petroleum Resources, Timipre Sylva, on Friday said there will be no increment in the pump price of Premium Motor Spirit (PMS) until the conclusion of consultation with Organised Labour.
The Minister gave this assurance while addressing newsmen in Lagos on Friday in reaction to reports that the price of PMS, had been increased to N212.61 per litre NAN reports.
“Irrespective of the source of that information, I want to assure you that it is completely 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, therefore, urge you to disregard this misleading information,” the Minister said.
He explained that the government has been in consultation with organised labour to find the least painful option to respond to the global rise of crude price, which has inevitably led to an increase in petrol prices.
He said it was unthinkable that the government would unilaterally abandon these discussions and act in the manner suggested by the information under reference.
“I will like 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 done; all in good faith and you will be availed of the final outcome at the appropriate time.
“Until then, all marketers are strongly advised to maintain the current pump price of PMS before the emergence of this unfortunate information.
“Those who may want to take advantage of this unfortunate information to extort Nigerians should not give in to such temptations as there are regulatory mechanisms that government can enforce to protect its citizens.
“In conclusion, I want to sincerely apologise to all Nigerians for any distress and inconvenience the unfortunate information might have caused,” he said.