Breaking: No Fuel Price Increase in June – FG

Nigeria government is not planning to increase fuel Price anytime soon.

Federal Government of Nigeria said that they are not planning to increase fuel Price anytime soon.

The development was contain in statement signed by Minister of Petroleum Resources, H.E Timpre Sylva.

In the statement Federal government says their will be no fuel increase in June.

Part of the statement read “No Fuel Price Increase in June. Once again it has become necessary to assure Nigerians that despite the huge burden of under-recovery, the Federal Government is not in a hurry to increase the price of Premium Motor Spirit ( PMS)”

“Federal Government said the current price of petrol will be retained in the month of June until the ongoing engagement with organised labour come to a conclusion.”

The full statement read.

Once again it has become necessary to assure Nigerians that despite the huge burden of under-recovery the Federal Government is not in a hurry to increase the price of premium motor spirit (petrol) to reflect current market reality.

The current price of petrol will be retained in the month of June until the ongoing engagement with organised labour is conclude.

This clarification become necessary in the light of recent report regarding the resolutions of Nigeria governor Forum to increase the pump price of petrol.

In this regard, I would like to strongly urge petroleum product marketers not to engage in any activities that could jeopardize the seamless supply and distribution system in place while calling on members of the public to avoid panic buying because the Nigerian national petroleum corporation (NNPC) has enough stock of petroleum product to keep the nation wet.”