The Minister of State for Petroleum Resources, Chief Timipre Sylva has said the pump price of Premium Motor Spirit (PMS) also known as petrol will not be increased in June.
Sylva said this in a statement in Abuja on Friday.
“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 realities.
“The current price of petrol will be retained in the month of June until the ongoing engagement with organised labour is concluded.
“This clarification becomes necessary in the light of recent reports regarding the resolution of the Nigeria Governors Forum to increase the pump price of petrol,” he said.
He further urged marketers not to engage in misconduct and urged the public not to engage in panic buying of products.
