Verbatim: Petrol Price has not been Increased to N212-Sylva

Minister of State for Petroleum Resources, Mr Timipre Sylva,

This statement by the Mr Timipre Sylva, Minister of State for Petroleum should put to rest the speculation about fuel price increase in Nigeria
“Irrespective of the source of that information, ( That Petrol is N212 per litre) I want to assure you that it is completely untrue. Neither Mr President who is the Minister of Petroleum Resources nor myself who deputise for him as minister of state has approved that petrol price should be increased by one naira.I therefore urge you to disregard this misleading information.
I will like to equally assure you that the engagement with the organised labour and other stakeholders will continue even as the calculations to arrive at a reasonable price regime are being done; all in good faith and you will be availed of the final outcome at the appropriate time.
Until then, all marketers were strongly advised to maintain the current pump price of PMS before the emergence of this unfortunate information.
Those who may want to take advantage of this unfortunate information to extort Nigerians should not give in to such temptations as there are regulatory mechanisms that government can enforce to protect its citizens.
In conclusion, I want to sincerely apologise to all Nigerians for any distress and inconvenience the unfortunate information might have caused.”
Timipre Sylva
Minister of State for Petroleum