The Minister of State for Petroleum Resources, Timipre Sylva, has reiterated that the federal government is no longer fixing the pump price of petroleum products in the country.
Sylva made this known while briefing journalists on the increase in the pump price of Premium Motor Spirit (PMS), also known as petrol. Recall that the Petroleum Product Marketing Company (PPMC) had on Wednesday announced the increase of fuel pump price to N165 per litre.
According to him, the well-being of Nigeria remains paramount to government.
“You all know that that President Muhammadu Buhari aligns with ordinary Nigerians, especially the poor.
“Left for him, he will never allow increase in pump price; for this to happen, it means that it is an inevitable decision.
“COVID-19 took the price of crude oil to zero zone,” the minister said.
He said that government cannot fund subsidy, hence would not adopt that as an option, noting that current happenings were for the economic survival of the
country.
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