The Federal Government has announced that there would be no increase in petrol pump prices in June despite the recommendation by the Nigerian Governors' Forum.
The 36 Governors of the Federation had earlier recommended that a litre of petrol should be between ₦405 and ₦380 and also called for the total removal of fuel subsidies.
In a statement released on Friday by the Minister of State for Petroleum, Timipre Slyva, the Government ruled out the plan to increase the petrol pump price anytime soon.
The minister said the continuous payment of fuel subsidies is a huge burden for the Federal Government.
The minister also said the fuel price will remain between ₦162 and ₦165 and it will remain the same in the month of June until the Federal Government meets with organized unions in the sector.
Slyva sent a strong warning to petrol marketers not to engage in any activities that will jeopardise the supply and distribution system. He also urged Nigerians to avoid panic buying because the Nigerian National Petroleum Corporation had enough stock of petrol in reserve.
What's your opinion on this? Is it right for Governors to call for an increase in petrol pump prices? Drop your comments below. Like and share.
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