FG in surprise reduction of fuel pump price to N130 per litre

FG in surprise reduction of petrol price to N130
 


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

A source close to the Presidency, disclosed that at the approval may have followed a presentation by the Minister of State on Petroleum Resources, Chief Timipre Sylva, to the ongoing Federal Executive Council (FEC) meeting at the Villa.

According to the source, who would not want to be named, Sylva had made a request to the FEC for the reduction of pump price of the product, citing the drop in the price of crude oil at the global market.

There are growing concerns in Nigeria over the crude oil price slash as a result of the pandemic Coronavirus ravaging the countries of the world