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The Premium Motor Spirit (PMS), also known as gasoline, continues to receive subsidies, according to the Federal Government of Nigeria, which announced this on Monday.
This was said by Timipre Sylva, the Minister of State for Petroleum Resources, to newsmen in Abuja.
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) stakeholders’ consultation forum on regulations was taking place when Sylva spoke.
The minister was reacting to the increase in pump price of petroleum by marketers from N165 per litre to N169, N184 and N218 per litre, depending on the area in the nation’s capital and other states.
“I can tell you authoritatively, we have not deregulated. The government is still subsidising petrol prices. If there are increases in price, it’s not from the government.
“It is probably from the marketers, but of course, I will talk to the authorities to ensure that they actually regulate the price. This isn’t from the government, we’ve not deregulated.
“But a lot is going on to ensure that the queues end. As of yesterday, I noticed that the queues in Abuja are easing off.”
Recall that there was fuel scarcity recently in Abuja and several other cities across the country.