{"id":36342,"date":"2021-05-21T15:21:49","date_gmt":"2021-05-21T14:21:49","guid":{"rendered":"https:\/\/www.withinnigeria.com\/news\/?p=36342"},"modified":"2021-05-21T15:21:49","modified_gmt":"2021-05-21T14:21:49","slug":"petrol-minister-sylva-no-petrol-price-increase-in-june","status":"publish","type":"post","link":"https:\/\/www.withinnigeria.com\/news\/2021\/05\/21\/petrol-minister-sylva-no-petrol-price-increase-in-june\/","title":{"rendered":"Petrol minister, Sylva: No petrol price increase in June"},"content":{"rendered":"<p>Minister of state for petroleum, Timipre Sylva has re-assured that there will be no increase in the price of premium motor spirit better known as petrol in June.<\/p>\n<p>This was contained in a press statement released on Friday in Abuja by the Minister of state for petroleum, Timipre Sylva.<\/p>\n<p>Recall that the general managing director of the Nigerian National Petroleum Corporation (NNPC) in April had announced that the price of petrol will not be increased until ongoing negotiations\u00a0between labour unions and government are concluded.<\/p>\n<p>Kyari had warned that the NNPC\u00a0<span class=\"aCOpRe\">cannot continue to bear the <a href=\"https:\/\/www.withinnigeria.com\/news\/2021\/05\/01\/sylva-speaks-on-petrol-subsidy-says-fg-will-halt-it-soon\/\">subsidy<\/a> burden on its books, noting that it pays<\/span><span class=\"aCOpRe\">\u00a0between N100-120 billion a month to keep the pump price at the current levels<\/span><span class=\"aCOpRe\">.<\/span><\/p>\n<p>The Nigeria Governors\u2019 Forum this week also recommended the full deregulation of the price of petrol, saying\u00a0that the current arrangement of subsidy payment is \u201cunsustainable\u201d.<\/p>\n<p>In the statement, Sylva said that despite the huge burden of under-recovery, the federal government is not in a hurry to increase the price of petrol to reflect current market realities.<\/p>\n<p>\u201cThe current price of petrol will be retained in the month of June until the ongoing engagement with organized labour is concluded,\u201d the statement read.<\/p>\n<p>\u201cThis clarification becomes necessary in the light of recent reports regarding the resolution of the Nigeria Governors Forum to increase the pump price of petrol.<\/p>\n<p>\u201cIn this regard, I would like to strongly urge petroleum products marketers not to engage in any activity that could jeopardize the seamless supply and distribution system in place.<\/p>\n<p>\u201cI also urge members of the public to avoid panic buying because the Nigerian National Petroleum Corporation (NNPC) has enough stock of petroleum products to keep the nation wet.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Minister of state for petroleum, Timipre Sylva has re-assured that there will be no increase in the price of premium motor spirit better known as petrol in June. This was contained in a press statement released on Friday in Abuja by the Minister of state for petroleum, Timipre Sylva. Recall that the general managing director [&hellip;]<\/p>\n","protected":false},"author":17,"featured_media":13292,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_override_bookmark_settings":[],"jnews_override_counter":[],"footnotes":""},"categories":[2],"tags":[2570,8826,3786,1660],"class_list":["post-36342","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-national","tag-nigeria-governors-forum","tag-nigerian-national-petroleum-corporation-nnpc","tag-subsidy","tag-timipre-sylva"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.8 (Yoast SEO v27.8) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Petrol minister, Sylva: No petrol price increase in June<\/title>\n<meta name=\"description\" content=\"Minister of state for petroleum, Timipre Sylva 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