The Federal Government says it is not in a hurry to increase the pump price of petrol, according to Timipre Sylva, Minister of State for Petroleum Resources.
Sylva said this while responding to the recommendation of the Nigerian Governors’ Forum (NGF) that the litre price of fuel should be between N408.5 and N380.
At a virtual meeting on Wednesday, the governors called for the full deregulation of the downstream sector and the immediate removal of fuel subsidy, saying the current subsidy regime was unsustainable, and only smugglers and illegal marketers benefit from it.
The recommendation of the governors had triggered anger and resentment across the nation as many Nigerians said it will increase the hardship in the land.
But in his response, Sylva assured Nigerians that there would be no increment in pump price of fuel in June.