The Federal Government has refuted, and apologised to Nigerians, over the increase of pump price on Friday, March 12, 2021.
This is coming after the Petroleum Products Pricing Regulatory Agency (PPPRA) had earlier released a guiding retail price of premium motor spirit (PMS) also called petrol, at an average of 211.11 per litre for February and possibly March.
A pricing template for the period, February 1 and 28 2021, was published on its website which put the lower band of the new fuel price for the month at about N209.61 per litre and upper band of N212.61 per litre. The template has since been deleted.
Minister of State for Petroleum Resources, Mr.Timipreye Sylva, has said it was a mix up, and asked Nigerians to disregard the increase
Nigerians had strongly criticized and decried the hike in the price of Premium Motor Spirit (PMS) popularly called petrol from N165/ltr to N212.61/ltr.
The Friday development has generated confusion with oil marketers and consumers at crossroads over what the actual selling price is.
Minister Silva had tendered the Federal Government’s unreserved apology to Nigerians for the inconvenience the wrong announcement may have caused them, while addressing newsmen at the ground breaking ceremony for the Rungas composite cylinder manufacturing plant in Alaro City FZE, Epe.
He said neither he nor the President, who is the Minister of Petroleum Resources, had approved that “the pump price of petrol should be increased by one naira,” and urged Nigerians to disregard the misleading information.
Minister Timipreye’s statement:
Dear Nigerians, you are by now very aware of the news trending that the federal govt has increased the price of petrol to N212.6 per liter.
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 my humble self who deputise for him as Minister of State, has approved that the pump price of petrol should be increased by one naira. I would therefore urge you to disregard this misleading information.
You are all aware that for the past few months the govt has been in consultation with organized labour to find the least painful option to respond to the global rise in the price of crude, which in turn has inevitably led to increase in the price of PMS. It is unthinkable that govt would unilaterally abandon these discussions and act in the manner suggested by the information under reference.
Cynicism and deceit have never been the trademark of the administration of President Muhammadu Buhari.
I would like to equally assure you that the engagement with organized labour and other stakeholders will continue even as the calculations to arrive at a reasonable price regime are being done; all in good faith, and you will be availed of the final outcome at the appropriate time. Until then, all marketers are strongly advised to maintain the current pump price of PMS before the emergence of this unfortunate information. Those who may want to take advantage of this unfortunate misinformation to extort Nigerians should not give in to such temptation as there are regulatory mechanisms that govt can enforce to protect its citizens.
In conclusion, I want to sincerely apologise to all Nigerians for any distress and inconvenience, the unfortunate information might have caused.
The Nigerian National Petroleum Corporation (NNPC) had earlier insisted also that there is no increase in the price of Premium Motor Spirit, which further contradicted that of the Petroleum Products Pricing Regulatory Agency as shown by the template published on the agency’s website.
The NNPC ruled out any increment in the ex-depot price on Friday in a series of tweet via its verified Twitter handle, @NNPCgroup.
“#NNPC Insists No Increase in Ex-Depot Price of PMS in March,” the corporation said hours after the PPPRA released the template.”
The NNPC had initially assured Nigerians that there will be no increase in the price of PMS this month.
The NNPC Spokesperson, Dr Kennie Obateru, said this in a statement issued last week noting that the government was not contemplating any increment in the retail price of PMS.
