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Again, FG reduces petrol price to N123.50 per litre

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Again, FG reduces petrol price to N123.50 per litreFor the second time since the outbreak of the coronavirus pandemic which led to the global crash in oil price, the Federal Government has announced a reduction of the pump price of petrol  to N123.50 per litre.

A statement issued by Petroleum Products Pricing Regulatory Agency (PPPRA), Executive Secretary, Mr Abdulkadir Saidu, on Tuesday in Abuja said the new price takes effect from today, April 1, 2020.

According to the statement, “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 statement said, “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 statement said.

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