The Federal Government has announced a further reduction of the pump price of the Premium Motor Spirit (PMS) from N125 to N123.50 per litre.
A statement made available to Igbere TV signed by Mr. Abdulkadir Saidu, Executive Secretary, Petroleum Products Pricing Regulatory Agency (PPPRA), said the new price takes effect from today, April 1, 2020.
“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,” the statement added.
The Federal Government had last month decreased the pump price from N145 per litre to N125 consequent upon the decline of the crude oil prices occasioned by the coronavirus pandemic.
