Nigeria’s Minister of State for Petroleum Resources, Timipre Sylva, has denied that the price of Petrol has been increased from N162/litre to N212.
The Minister in a statement read to Journalist on Friday in Lagos, also apologised to Nigerians for what he described as ‘unfortunate misinformation’ while also warning retailers not to take undue advantage of the misinformation irrespective of its origin.
The statement read: “Dear Nigerians, you are by now very aware of the news trending that the federal government has increased the price of petrol to N212/litre.
“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 the pump price of petrol be increased by N1.
“I will therefore urge you to disregard this misleading information.
“We are all aware that for the past few months, the government has been in consultation with organised labour to find a lasting solution to this problem.
“The price of crude oil has gone up, which might inevitably lead to price increase at the pump, but this cannot happen before the negotiations with labour and all stakeholders has been concluded.
“I will equally like to assure you that the engagement with organised labour and other stakeholders will continue, even as the calculations to arrive at a reasonable price are on going.
“All in good faith, and you will be avail of the final outcome by the appropriate time.
“Until then, all marketers are strongly advised to maintain the current pump price of PMS despite the emergence of this unfortunate information.
“Those who may want to take advantage of this unfortunate misinformation to extort Nigerians should not give in to such temptation, as there are regulatory mechanism that government can enforce to protect its citizens.
“In conclusion, I want to sincerely apologise to all Nigerians for any distress or inconvenience this unfortunate information may have caused,” he said.