The federal government has announced a reduction in the pump price of petrol from N125 per litre to N123 per litre.
This announcement was made by the Petroleum Products Pricing Regulatory Agency (PPPRA), in a statement signed by Abdulkadir Saidu, PPPRA executive secretary.
The statement reads in part: “The 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 April 1, 2020, shall apply at all retail outlets nationwide for the month of April, 2020.
“The 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.”
This reduction of petrol pump price will be the second in last two weeks as the federal executive council had approved a reduction of petrol pump price from N145 to N125 on March 18.
