By Ademola Akanni, Abuja
The Federal Government of Nigeria has again reduced fuel price in the country, The Gazelle News.com reports.
The Petroleum Products Pricing Regulatory Agency (PPPRA) announced on Tuesday, 31 March, 2020 that petrol pump price is now N123.50 per litre with effect from 1 April, 2020.
This was a N1.50 reduction from the previous N125 announced for the month of March by the PPPRA.
The Executive Secretary of PPPRA, Abdul Kadir Saidu, who made the announcement stated that the new price was in line with government’s approval for a monthly review of Premium Motor Spirit (PMS) popularly known as petrol.
He stated that the new price takes effect from Wednesday, 1 April, 2020.
Saidu said further that the new price was arrived at after an exhaustive meeting of stakeholders in the petroleum sector such as: the Central Bank of Nigeria (CBN), Nigeria National Petroleum Corporation (NNPC), oil marketers and labour unions among others.
The meeting took place on Tuesday, 31 March, 2020.
Copyright: The Gazelle News.com