A Presidential approval for the reduction of pump price of petrol from N145 to N125 may have been given, according to Aso Rock sources.
President Muhammadu Buhari’s nod followed a presentation by the Minister of State for Petroleum Resources, Chief Timipre Sylva, at the ongoing Federal Executive Council (FEC) meeting at the Villa.
Sylva, who last week had hinted of the possibility of government reducing pump price, had made a request to FEC for the reduction following a plunge in the price of crude oil at the global market.
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