Nigerian govt again reduces petrol pump price
The Federal Government has announced a reduction of the pump
price of the Premium Motor Spirit (PMS) to N123.50 per litre.
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According to the Petroleum Products Pricing Regulatory
Agency (PPPRA), Executive Secretary, Mr. Abdulkadir Saidu, the new price takes
effect from today, April 1, 2020.
In a statement in Abuja on Tuesday night, he said: “PPPRA,
in line with the Government approval for a monthly review of Premium Motor
Spirit (PMS) pump price, hereby announces Guiding PMS pump price of N123.50 per
Litre.
“The Guiding price
which becomes effective 1st 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. Members of the Public and all Oil Marketing Companies are to
be guided accordingly.”
The Federal Government had last month decreased the pump
price from a maximum band of N145 per litre to N125 per litre consequent upon
the decline of the crude oil prices.