The Federal Government has reduced the price of petrol from N125/litre to N123.5/litre for the month of April, the Executive Secretary of the PPPRA Abdulkadir Saidu, announced Tuesday night.
“Motor Spirit pump price hereby announces guiding PMS pump price of N123.50 per litre, he said in a statement obtained by Per Second News.
The reduction is in line with the government approval for a monthly review of Premium Motor Spirit (PMS) pump price.
“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.”
It added, “Members of the public and all oil marketing companies are to be guided accordingly.”