There is no increment of fuel pump price – Timipre Sylva.

– Steve Ovirih.

The Minister of State for Petroleum, Mr. Timipre Sylva has debunked the rumors of an increase in the pump price of a litter of fuel in Nigeria.

In a statement he personally signed and made available to the press, Sylva said, ” Petrol Price has not been increased to #212. We apologise to Nigerians .

” Irrespective of the source of the unfounded information that that petrol pump price is now # 212 per litter , I want to assure you that it is completely untrue. Neither Mr. President who is the Minister of Petroleum Resources nor myself who deputise for him as Minister of State has approved that petrol price should be increased by one naira.

” I therefore urge you to disregard the misleading information,” Timipre Sylva appealed.

The Minister of State for Petroleum further reiterated that the engagement with the organised labour and other stakeholders will continue as the calculations to arrive at a reasonable price regime are being done in utmost good faith.

He advised all marketers of Premium Motor Spirit (PMS) to maintain the current pump price before the emergence of the unfortunate information, stressing that Government will not fail to activate all the necessary mechanisms to punish those who may want to take advantage of the development to extort Nigerians.

It will be recalled that a mild drama on a subtle new price regime of fuel played out yesterday, Friday, the 12th March as Petroleum Product Pricing Regulatory Agency ( PPPRA) introduced a new pump price template of #212 on its website. No sooner had this new pump price become a breaking news than Nigerian National Petroleum Commission ( NNPC) countered the development on its Twitter handle by announcing that a litter of fuel in Nigeria has not been increased, urging Nigerians to disregard the information emanating from PPPRA. In a twist that has made Nigerians to wonder what kind of game the government agency was up to, PPPRA eventually deleted the news of fuel pump price increase from its website.

However, the deal has already been done as panic buying of fuel , a phenomenon that Nigerians thought belonged in the past has unfortunately resurfaced. Independent marketers have already jerked up pump price of fuel while most fueling stations across Nigeria have either adjusted their pumps to address the new price regime or shut down sales abruptly, causing untold hardship and inconveniences among the citizenry.