*BREAKING: FG reduces petrol price to N130 from N145

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The Federal Government may have directed the reduction in the pump price of Premium Motor Spirit (PMS) from N145 per liter to about N130.
Minister of State for Petroleum Resources, Timipre Sylva, had last week said the government was in consultation with relevant stakeholders on the possibility of reducing the price following the crash in crude oil prices in the international market.
It was learned that the government may have approved the new price after a presentation by Sylva to the ongoing meeting of Federal Executive Council (FEC) being presided over by President Muhammadu Buhari at the presidential villa, Abuja.

In compliance with the directives of the Honourable Minister of State for Petroleum Resources on PMS pricing, the Corporation has reviewed its *Ex-coastal, Ex-depot and NNPC Retail pump prices* accordingly.
 
Effective *19th March 2020,* NNPC Ex-Coastal price for PMS has been reviewed downwards from *N117.6/litre to N99.44/litre* while Ex-Depot price is reduced from *N133.28/litre to N113.28/litre.*
 
These reductions will therefore translate to *N125/litre* retail pump price. 
 
Despite the obvious cost implication of this immediate adjustment to the Corporation, NNPC is delighted to effect this massive reduction of *N20/litre* for the benefit of all Nigerians.
 
Accordingly, all NNPC Retail stations nationwide have been directed to change the retail pump price to *N125/litre.*
 
*Mele K. Kyari*
Group Managing Director, NNPC, Abuja.
18th March 2020
Details Soon....
© *NIGERIAN TRIBUNE*

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