FG Announces When New Petrol Price Increase Will Be Imposed

FG has made clarification and announced when the new petrol price increase will be imposed.

News Rain Nigeria reports that the Nigerian government has stated that there will be no increment in the pump price of petrol until the organised labour is consulted.

According to The Guardian, NAN reported that Timipre Sylva, minister of state for petroleum resources, made the statement when addressing journalist in Abuja on Friday, March 12.

FG Announces When New Petrol Price Increase Will Be Imposed

Sylva’s statement was in reaction to the pricing template published by the Petroleum Products Pricing Regulatory Agency (PPPRA) which pegged the new pump price of petrol at N212.61 per litre.

He said: ”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.”

Premium Times reported that the minister explained that the federal government would continue to consult with the organised labour and other stakeholders to arrive at a reasonable price regime for petrol.

Sylva said until an agreement is reached, all marketers are to maintain the current pump price of petrol.