FG reduces petrol price to N123.5 per litre
The Federal Government on Tuesday night reduced the price of petrol from N125 / litre to N123 . 5 / litre. Current petrol price indicates a reduction of N1 . 5 on every litre of petrol purchased nationwide . It announced the reduction through the Petroleum Products Pricing Regulatory Agency , after a whole day meeting with stakeholders in the oil and gas sector in Abuja. Announcing the reduction , the Executive Secretary of the PMS pricing regulator, Abdulkadir Saidu, said , “ PPPRA, in line with the government approval for a monthly review of Premium “ Motor Spirit pump price hereby announces guiding PMS pump price of N123 . 50 per litre . “ The guiding price which becomes effective 1 st April 2020 , shall apply at all retail outlets nationwide for the month of April 2020 . PPPRA and other relevant regulatory agencies shall continue to monitor compliance to extant regulations for a sustainable downstream petroleum sector . ” It added , “ Members of the public and a...