BREAKING: FG Orders NNPC To Reduce Petrol Price From N145

March 18, 2020
100 Views
NNPC

NNPC

The Federal Government has directed the Nigerian National Petroleum Corporation to reduce the pump price of petrol to reflect the current crash in the global price of crude oil, according to Punch.

The order was given after President Muhammadu Buhari approved the price reduction following a briefing he received from the Minister of State, Petroleum Resources, Mr Timipre Sylva on the matter.

Sylva also made a presentation to the Federal Executive Council on Wednesday, The PUNCH reports.

“The drop in crude oil prices has the expected open market price of imported petrol below the official pump price of 145 per litre”, the document said.

It added, “Therefore, the FG is directing the NNPC to reduce ex-coastal and ex-depot prices of PMS to reflect the current market realities.”

The document did not fix any price as the new official price.

This is to be decided by the NNPC.

However, there are speculations that the new price will range from N126 to N130.

You may be interested

Politics is devoid of region, ethnicity – Kwande tells Jos North/Bassa electorates
News
11 views
News
11 views

Politics is devoid of region, ethnicity – Kwande tells Jos North/Bassa electorates

Webby - January 28, 2022

By Kingsley Chukwuka Suleiman Yahaya-Kwande, a former federal lawmaker has admonished the people of his constituents not to allow any politician divide…

Statue of Kobe Bryant, daughter placed at crash site on second anniversary of deaths
News
News

Statue of Kobe Bryant, daughter placed at crash site on second anniversary of deaths

Webby - January 28, 2022

Spread the love A statue of the late legendary basketballer, Kobe Bryant and his daughter Gianna was placed on the…

Shekarau opens up on rift with Ganduje
News
3 views
News
3 views

Shekarau opens up on rift with Ganduje

Webby - January 28, 2022

The Senator representing Kano Central and leader of G7, Ibrahim Shekarau, has opened up on the rift between him and…

Leave a Comment

Your email address will not be published.