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Friday, January 27, 2023

Nigerian govt denies raising fuel price –

On Friday, the federal government denied raising prices for domestic petroleum products.

After weeks of severe petrol shortages, many petrol stations in Lagos, Abuja, Rivers and other parts of the country started selling Premium Motor Spirit (PMS), also known as gasoline.

The development sparked hints that the federal government would raise prices on products.

However, President Muhammadu Buhari has not approved the price of petroleum products, a media aide to Timipre Sylva, Minister of State for Petroleum Resources, said in a statement in Abuja. any increase.

He described scarcity and rising prices as the work of pranksters determined to undermine the president’s efforts to improve the nation’s oil and gas industry.

Silva Said: “President Muhammadu Buhari has not approved the increase in the price of PMS or any other petroleum products in this regard.

Also read: Oil minister Silva says N300 a liter of fuel is not much for Nigerians

“President Muhammadu Buhari has no reason to renege on his earlier promise not to approve any PMS price hike at this time.

“Mr. President is sensitive to the plight of ordinary Nigerians and has repeatedly stated that he understands the challenges of ordinary Nigerians and does not want to cause untold hardship to voters.

“The government will not secretly approve an increase in PMS without proper consultation with relevant stakeholders. The President has not directed the Nigeria Midstream and Downstream Petroleum Regulatory Authority or any agency for that matter to increase fuel prices.

“Now is not the time to increase the price of PMS pumps.”

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