[UPDATED] FG Reduces Fuel Price To N125/Litre

The Federal Government has approved the reduction of fuel price from N145 to N125.

resident Muhammadu Buhari approved the reduction of pump price of the Premium Motor Spirit (PMS) also known as petrol from N145 to N130.

According to a briefing from the Federal Executive Council (FEC), the new pump price of petrol is now 125 naira.

The President ordered that the adjustment takes effect immediately.

Giving the directive on behalf of the President, Mr Timipre Sylva told newsmen that compliance by petroleum marketers is to be enforced by the NNPC and the PPPRA.