The Federal Government has denied any increase in the price of Premium Motor Spirit popularly called petrol, despite the hike and scarcity of the commodity across the country.
The Minister of State for Petroleum Resources, Timipre Sylva, in a statement signed by his media aide, Horatius Egua, in Abuja on Friday, said the President, had not approved any price increase for PMS.
He said, “President Muhammadu Buhari has not approved any increase in the price of PMS or any other petroleum product for that matter.
“There is no reason for President Muhammadu Buhari to renege on his earlier promise not to approve any increase in the price of PMS at this time.
“Mr. President is sensitive to the plight of the ordinary Nigerian and has said repeatedly that he understands the challenges of the ordinary Nigerian and would not want to cause untold hardship for the electorate.”
Sylva argued that mischief makers and those planning to discredit the achievements of the President in the oil and gas sector are the masterminds of the price hike.
Petrol has remained scarce in most parts of the country. Despite the official pump price set at N165 naira, the product has sold at between N210 and N300 in Lagos and other parts of the country.
