Abuja, Jan. 5, 2018 (AltAfrika)-The federal government has debunked rumours suggesting it is planning to increase the approved pump price of petroleum products from the current N145/litre.

This is as contained in press statement issued by Idang Alibi, Director of Press, Ministry of Petroleum Resources on Thursday, 4th January, 2018.

The statement as obtained by Naija News reads:

“The attention of the office of the Honorable Minister of State, Petroleum Resources has been drawn to some certain publications making the rounds on both traditional and social media alleging that the Honorable Minister of State, Petroleum Resources, Dr. Emmanuel I. Kachikwu dropped a hint of an impending fuel price increase during the Joint Senate and House of Representatives Committee hearing on fuel scarcity in Nigeria.”

“The Ministry of Petroleum Resources would like to categorically state that the Honorable Minister of State, Petroleum Resources all through his presentations at the hearing neither mentioned nor insinuated the need or plans by the Federal Government to increase the current pump price of Premium Motor Spirit (PMS).”

“It would be expedient to note that that the Presidency has set up a special committee to identify the immediate and remote causes of the fuel scarcity with a view to finding both immediate and long lasting solutions to the challenge.”

“The Committee has been in rounds of deliberations in the past few days and these discussions are still ongoing. The final decisions and recommendations from the Committee would be passed on to the President and Commander-In-Chief for approval.”

“The general public and indeed stakeholders in the Oil and Gas sector are by this statement urged to disregard any such report of a price increase.”

“Further information and communiqué on the resolutions would be communicated as and when due.” The statement concluded.