Pump price of petrol will not be increased- FG assures Nigerians

The Federal government has no plans to increase the pump price of PMS.

The Permanent Secretary, Federal Ministry of Petroleum Resources, Danladi Kifasi, on Thursday assured Nigerians that the Federal Government has no plans to increase the pump price of petrol.

Mr. Kifasi said this in a statement made available in Abuja.

He emphasised that government has no plans to increase the pump price of Premium Motor Spirit, PMS, from the prevailing price of N97 per litre.

The Permanent Secretary dismissed fears in some quarters about an impending price hike describing it as "unfounded".
"We would like to appeal to Oil Marketers to refrain from the hoarding of petroleum products and the general public from panic buying in anticipation of any increase in pump price.

"It is equally important to state that neither the Federal Ministry of Petroleum Resources nor any of its parastatal is under any instruction to activate a new pump price regime as being speculated," he said.

Mr. Kifasi further warned petroleum product marketers to desist from creating any scarcity so as to induce panic in the system in order to exploit unsuspecting members of the public.

"The relevant agencies of government including the Department of Petroleum Resources (DPR) and the Economic and Financial Crimes Commission (EFCC) have been directed to deal with offenders," he said.

Mr. Kifasi assured that the government had made enough arrangements to ensure that the entire nation remains `wet` with petroleum products round the clock in 2014 just as it has been the practice in the last three years.

(NAN)