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Oil Gloat/COVID-19: Nigeria Further Reduces Fuel Pump Price Per Litre To N123.50k

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Oil Gloat/COVID-19: Nigeria Further Reduces Fuel Pump Price Per Litre To N123.50k

Published

6 years ago

on

April 1, 2020

By

Optimum Times

The Federal government has further reduced the per litre pump price of Premium Motor Spirit (PMS) popularly known as fuel, to N123.50k and it takes effect immediately.

Recalled that given the perpetual fall in price per barrel of crude oil in international market to as low as $20 per barrel and in order to cushion the effects of COVID-19 pandemic in Nigeria, the Federal Government reduced the per litre pump price of fuel from N145 to N125.

The Petroleum Products Pricing Regulatory Agency (PPPRA) announced the further reduction Tuesday, saying 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”, a statement by Abdulkadir Saidu, Executive Secretary of PPPRA stated.

Related Topics:New pump price per litre PPPRA

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