The Minister of State for Petroleum Resources, Timipre Sylva, on Tuesday revealed that the federal government was not responsible for the increase in the price of Premium Motor Spirit (PMS), otherwise known as petrol.
According to Sylva, the marketers are responsible as the government still subsidises petrol, with provisions made for the next few months
Speaking at the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) stakeholders’ consultation forum on regulations, Mr Sylva said the marketers mostly to blame.
“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,” he added.
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 and N185.
Join the conversation
Support Ripples Nigeria, hold up solutions journalism
Balanced, fearless journalism driven by data comes at huge financial costs.
As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.
If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.
Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.
INVESTIGATION: How roadside foods endanger consumers’ life with trans fat in northern Nigeria
With an estimated 854,000 deaths in Nigeria, and 3,229 attributed to trans fatty acids (TFA) -related cardiovascular deaths, ADESOLA IKULAJOLU visited Nigeria’s...
INVESTIGATION: Untold story of Ondo oil producing communities battling poor health system
Access to quality healthcare is one of the nightmares of communities in Ilaje local government area of Ondo State. Despite...
FEATURE: Ogun residents, waste collectors trade blames, as refuse litter environment
TIJANI ABDULKABEER, a journalist from the University of Ibadan, during a recent trip to Sango Otta, Ogun State took a look...
INVESTIGATION: How online fraudsters siphon victims’ funds through ‘SportyBet’ platform
As Nigeria transits into a cashless society, the evolution also creates opportunities for internet scammers to take advantage of unsuspecting...
SPECIAL REPORT: Enugu govt watches as waste takes over state, threatens public health, environment
In this report, Arinze Chijioke looks at how delays in evacuation of waste in Enugu State encourages indiscriminate waste disposal, its health implications, and how...