The Federal Government of Nigeria has announced a reduction of the pump price of the Premium Motor Spirit (PMS) to N123.50 per litre.
Okay.ng recalls that the government had in March approved N125 as pump price of petrol from N145.
The Petroleum Products Pricing Regulatory Agency (PPPRA), Executive Secretary, Mr. Abdulkadir Saidu in a statement to Okay.ng late on Tuesday said the new price takes effect from today, April 1, 2020.
The statement read: “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 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. Members of the Public and all Oil Marketing Companies are to be guided accordingly.”