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FG Has Nothing To Do With Increase In Price Of Petrol – Sylva

Channels Television  
Updated August 2, 2022
FILE: The Minister of State for Petroleum, Timipre Sylva speaks during an interview on Channels Television’s Newsnight on January 24, 2022.

 

The Minister of State for Petroleum Resources, Timipre Sylva, says the Federal Government is not responsible for the increase in the price of petrol across the country.

According to Sylva, the government is still subsidising petrol.

Speaking at the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) stakeholders’ consultation forum on regulations, Sylva said the marketers are most likely to blame.

READ ALSO: Fuel Subsidy Is Estimated At N6.72tn For 2023 – Finance Minister

“I can tell you authoritatively that we have not deregulated,” he said.

“The government is still subsidising. If there are increases in price, it is not from the government. It is probably from the marketers.

“But I will talk to the authorities to actually regulate the price. But this is not from the government. We have not deregulated.”

While the official pump price of the product is pegged at N165 per litre, many filling stations have been selling for as high as N180.

Meanwhile, petrol subsidy claims continue to skyrocket.

According to the Nigerian National Petroleum Corporation (NNPC) Limited, petrol subsidy claims reached N2.6 trillion in the first half of 2022, surpassing revenue generated from the sale of crude oil.