FG Order The Sell on Petrol At N123.50 Per Liter
The Federal government has announced through the Petroleum Products Pricing Regulatory Agency (PPPRA), the reduction of petrol pump price to N123.50.
The Federal Government made this announcement in a statement by the PPPRA and signed by its Executive Secretary, Abdulkadri Saidu and due for implementation on April, 1, 2020.
Recall that Federal Executive Council FEC had on 18 March approved a reduction of petrol pump price originally N145 to N125 because of the trend in the crude oil market.
The Statement reads thus:
“The 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 guiding price, which becomes effective April 1, 2020, shall apply at all retail outlets nationwide for the month of April, 2020. The 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.”