The agency announced on its website that Premium Motor Spirit (PMS) popularly referred to as petrol, could now be dispensed for between N209.61 and N212.61 per liter, in line with prevailing market fundamentals.
Following backlash and uproar from Nigerians across all social media platforms, the PPPRA deleted the pricing template from its website and followed up with a statement to say it only issued a pricing advisory in line with its mandate to monitor market trends and report accordingly.
Minister of State for Petroleum, Sylva, has issued another statement to say neither he nor President Muhammadu Buhari had approved the decision to increase the retail price of petrol to N212 per liter.
“Cynicism and deceit have never been the trademark of the administration of President Muhammadu Buhari,” Sylva says.
“Neither Mr. President who is the Minister of Petroleum Resources, nor my humble self who deputise for him as Minister of State, has approved that the pump price of petrol should be increased by one naira. I would therefore urge you to disregard this misleading information.
“I would like to equally assure you that the engagement with 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 are strongly advised to maintain the current pump price of PMS before the emergence of this unfortunate information.
“In conclusion, I want to sincerely apologise to all Nigerians for any distress and inconvenience the unfortunate information might have caused.”
The NNPC has also rejected claims that it has endorsed a new petrol pricing regime.