The Federal Government on Monday insisted that it had not raised the pump price of Premium Motor Spirit, popularly called petrol, above the regulated cost of N165/litre, adding that the observed increases was caused by marketers.
While speaking on the sidelines of the stakeholders’ consultation forum on Midstream and Downstream Petroleum Regulations organised by the Nigerian Midstream and Downstream Petroleum Regulatory Authority in Abuja, the Minister of State for Petroleum Resources, Chief Timipre Sylva, emphasized that the government had not raised the price of PMS.
“Well, I can tell you authoritatively that we have not deregulated.
“The government is still subsidising, if there are increases in the price it is not from the government, it is probably from the marketers.
“But, of course, I will talk to the NMDPRA’s chief executive to ensure that they actually regulate the prices. But this is not from the government because we have not deregulated.”
