BREAKING: Federal Government Reduces The Pump Price Of Petrol To N130 From N145, With Immediate Effect

The Federal Government, has directed the reduction of the pump price of Premium Motor Spirit, PMS, from N145 per liter, to about N130.

The Minister of State for Petroleum Resources, Timipre Sylva, had last week, said that the government was in consultation with relevant Stakeholders, on the possibility of reducing the price, following the crash in crude oil prices in the international market.

It was learnt that the government may have approved the new price, after a presentation by Sylva, to the ongoing meeting of the Federal Executive Council, FEC, being presided over by President Muhammadu Buhari, at the Presidential Villa, Abuja.

More later…