Despite the rise in the price of Premium Motor Spirit, often known as petrol, across the country, the Federal Government has denied sanctioning any increase in the price of the product.
This was revealed by Timipre Sylva, Minister of State for Petroleum Resources, in a statement issued by his media aide, Horatius Egua, in Abuja on Friday, in which he stated that President Muhammadu Buhari has not authorized any fuel price rise.
Sylva was quoted as saying, “President Muhammadu Buhari has not approved any increase in the price of PMS or any other petroleum product for that matter. There is no reason for President Muhammadu Buhari to renege on his earlier promise not to approve any increase in the price of PMS at this time.
“Mr President is sensitive to the plight of the ordinary Nigerian and has said repeatedly that he understands the challenges of the ordinary Nigerian and would not want to cause untold hardship for the electorate.
“Government will not approve any increase of PMS secretly without due consultations with the relevant stakeholders. The President has not directed the Nigerian Midstream and Downstream Petroleum Regulatory Authority or any agency for that matter to increase the price of fuel. This is not the time for any increase in the pump price of PMS.’’
The minister noted that what was playing out was the handiwork of mischief makers and those planning to discredit the achievements of the President in the oil and gas sector of the economy.
He added, “What is playing out is the handiwork of mischief makers and those planning to discredit the achievements of Mr President in the oil and gas sector of the economy. I appeal to Nigerians to remain calm and law-abiding as the government is working hard to bring normalcy to fuel supply and distribution in the country.’’
Oil marketers had already acknowledged the hike in fuel prices, citing it as one of the reasons why major marketers were currently dispensing the commodity at higher rates. According to various media reports, the Federal Government raised the official pump price of premium motor spirit (fuel) to N185 per litre on Thursday, January 19.
According to reports, the Federal Government delivered a directive to all marketers, including the Major Oil Marketers Association of Nigeria (MOMAN) and the Independent Petroleum Marketers Association of Nigeria (IPMAN), alerting them that the pump price will be adjusted appropriately.