Minidter of State for Petroleum Resources, Chief Timipre Sylva
By Our Reporter
Minister of State for Petroleum Resources, Chief Timipre Sylva has said that the federal government has not removed subsidies on the Premium Motor Spirit (PMS), otherwise known as fuel.
He stated this while speaking with journalists on Monday in Abuja.
The minister spoke on the sidelines of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) stakeholders’ consultation forum on regulations.
The forum was organized by the authority to consider and review the midstream and downstream petroleum regulations to bequeath the industry with laws and policies to enable needed investment in the sector.
Sylva was reacting to the increase in the pump price of petroleum by marketers from N165 per litre to N169, N184, and N218 per liter depending on the area in Abuja and other states.
“I can tell you authoritatively, we have not deregulated. The government is still subsidizing petrol prices. If there are increases in price, it is not from the government.
“It is probably from the marketers but of course, I will talk to the authority to ensure that they actually regulate the price. This is not from the government, we have not deregulated.
“But a lot is going on to ensure that the queues ended. As of yesterday, I noticed that the queues in Abuja are easing off,” the minister said.
