Chief Timipre Sylva, Minister of State for Petroleum Resources, has dismissed claim of increase in fuel price to N212 per litre.
The Minister, who made the assertion on Friday, 12 during the ground-breaking ceremony for the RUNGAS ALFA FZE composite cylinder manufacturing plant in Alaro City, FZE, Epe, also apologised to Nigerians over any inconveniences they might be experiencing.
According to him, the Federal Government does not have any plan to increase petro price now.
The Minister urged Nigerians not to panic.
Sylva’s statement came on the heel of Petroleum Products Pricing Regulatory Agency (PPPRA) increasing PMS to N221.00 per litre, but later reversed it.
According to the Minister, there was a mix up with PPPRA’s announcement, adding that, it had reversed itself.
“PPPRA announcement was a mixed-up,. The agency has already reversed its position,” Sylva said.
The minister maintained that the PMS price would not be increased now until govenmenrt’s discussions with labour and other stakeholders are concluded.
“The government position has not changed. What this administration wants to bequeath as a legacy to Nigerians is a deregulated downstream.
“We have never changed that position but can’t happen without consultations with stakeholders . You know we announced the deregulation last year as part of our discussion with labour. We decided to step back a little and continue the conversation with labour and other stakeholders.
“Discussion is still ongoing and that is why we have not increased price.
There is no plan to increase petro price at all until we conclude those discussions with labour and other stakeholders,” he assured.