"No petrol price increase in June" –Timipre Sylva

Minister of state for petroleum, Timipre Sylva has said there won’t be any increase in the price of petrol in June.  Sylva who said this after the Nigeria Governors’ Forum recommended the full deregulation of the price of petrol, further averred that the current price of petrol will be retained in the month

of June until the ongoing engagement with organized labour is concluded.

He also told petroleum products marketers not to engage in any activity that could jeopardize the seamless supply and distribution system in place.

The Minister said;

“The current price of petrol will be retained in the month of June until the ongoing engagement with organized 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.

“In this regard, I would like to strongly urge petroleum products marketers not to engage in any activity that could jeopardize the seamless supply and distribution system in place.

“I also urge members of the public to avoid panic buying because the Nigerian National Petroleum Corporation (NNPC) has enough stock of petroleum products to keep the nation wet.”