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Nigerian Government Denies Plans To Increase Petrol Price

Channels Television  
Updated January 2, 2014

Fears that the Federal Government of Nigeria may increase the pump price of petrol have been dismissed by the Federal Ministry of Petroleum Resources.

Such fears and rumours of a possible increase in the pump price of petrol have in recent times led to some marketers hoarding the product.

The Ministry of Petroleum Resources is appealing to oil marketers to refrain from hoarding petroleum products, just as it is also appealing to members of the public to refrain from panic buying.

The Department Of Petroleum Resources, DPR, and the Economic and Financial Crimes Commission, EFCC, have also been directed to deal with those engaged in the hoarding of petroleum products.

The Permanent Secretary of the Ministry of Petroleum Resources, Mr Danladi Kifasi, has assured the public that it had made enough arrangements to guarantee the availability of petroleum products in the entire nation. He also stated that neither the ministry nor any of its parastatal had been given any instruction to activate a new pump price as speculated.