Federal Government of Nigeria reduces pump price of petrol to N123.50 per litre

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The Petroleum Products Pricing Regulatory Agency has announced further reduction of the pump price of Premium Motor Spirit also known as petrol from N125 to N123.50k per litre.

The agency made the announcement in a statement signed by its Executive Secretary, Abdulkadir Saidu, in Abuja.

In line with the government approval for a monthly review of Premium Motor Spirit pump price,the Petroleum Products Pricing Regulatory Agency announced Guiding PMS pump price of N123.50 per Litre.

The Guiding price which becomes effective fromApril 1st 2020, shall apply at all retail outlets nationwide for the month of April, 2020.

He added that the Petroleum Products Pricing Regulatory Agency and other relevant regulatory agencies will continue to monitor compliance to extant regulations for a sustainable downstream petroleum sector.

Saidu noted that members of the public and all Oil Marketing Companies are to be guided accordingly.

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