The Federal Government yesterday reaffirmed that the pump price of the product remains at N170 per litre, despite lengthy lines and pump prices of more than N200 per litre for Premium Motor Spirit (PMS) in some states.
Timipre Sylva, the state’s minister of petroleum resources, disputed any price increases for PMS in a press release. However, despite the President Muhammadu Buhari administration paying a subsidy, the pump price has subsequently risen above N200 per litre across all states.
Although it was widely reported last Thursday that the Federal Government had officially raised the price of gasoline from N170 to N185 per litre and from N148 to N167 for ex-depot purchases, Sylva refuted the claims.
Nigerians experienced a shortage of the commodity last year because to the over N7 trillion spent on petrol subsidies, as the price could not be controlled across states. Prices remained below N200 per litre in big cities like Abuja and Lagos but were higher in other states.
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According to a statement from Sylva’s Senior Adviser for Media and Communications, Horatius Egua, President Muhammadu Buhari has not given his approval for any price increases for PMS, despite rumours to the contrary.
“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 plights 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 (NMDPRA) or any agency for that matter to increase the price of fuel. This is not the time for any increase in pump price of PMS.
“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.”
