Minister of State for Petroleum Resources, Timipre Sylva has announced that there will be no increment in the pump price of Petrol until conclusion of consultation with Organised Labour.
Sylva disclosed this during an interview with newsmen in Lagos on Friday.
The minister said it was necessary to clear the air on the issue because of reports circulating that the price of PMS had been increased to N212.61 per litre. Sylva said that information is completely untrue and urged people to disregard the information.
He said: ” Irrespective of the source of that information, I want to assure you that it is completely untrue.
“Neither Mr President who is the Minister of Petroleum Resources nor myself who deputies for him as minister of state has approved that petrol price should be increased by one naira. “I therefore urge you to disregard this misleading information.”
He noted that for the past few months, the government has been in consultation with Organised Labour to find the least painful option to respond to the global rise of crude price which has inevitably led to increase in petrol prices adding that it was unthinkable that government would unilaterally abandon these discussions and act in the manner suggested by the information under reference.