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The Federal Government has once again rejected the Nigeria Governors’ Forum (NGF) request to raise the price of Premium Motor Spirit (PMS), also known as petrol.
On Friday, the Federal Government restated its position, saying that no decision on adjusting the price of gasoline would be made until ongoing negotiations with organised labour were completed.
On May 21, it first rejected the governors’ request to raise the price of gasoline to between N380 and N408.5 per litre and eliminate fuel subsidies.
The governors’ advice was based on the report of its committee chaired by the Kaduna State Governor, Mallam Nasir El-Rufai, seeking the full deregulation of the oil sector.
But the Minister of State for Petroleum Resources, Chief Timipre Sylva, in a statement on Friday, said the current petrol price of between N162 and N165 per litre would stay.
He said, “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.”