JUST IN: FG Reduces Petrol Price To N121.50 Per Litre

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The Federal Government has slashed the price of petrol to N121.50 per litre, reports.

JUST IN: FG Reduces Petrol Price To N121.50 Per Litre
A fuel station attendant dispenses kerosene at a Nigerian National Petroleum Corporation (NNPC) mega petrol station in Abuja January 23, 2015. The NNPC commenced sale of kerosene cooking fuel, which a majority of Nigerians depend on for cooking, at a reduced pump price of $0.27 per litre nationwide at all NNPC outlets. REUTERS/ Afolabi Sotunde (NIGERIA – Tags: ENERGY BUSINESS) – RTR4MO8Q

The Petroleum Products Pricing Regulatory Agency made the announcement through a circular to fuel marketers dated May 31, 2020, which was obtained by our correspondent on Monday.

Recall that the pump price of petrol, which is still being regulated by the Federal Government, was reduced to N125 per litre from N145 per litre on March 18, 2020, effective March 19.

The PPPRA further announced on March 31 a price band of N123.50 to N125 per litre, effective April 1.

More details to follow…

Adelowo Adegboyega
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