JUST IN: FG Reduces Pump Price Of Petrol

The Nigerian government has reduced the pump price of petrol according to the The Petroleum Products Pricing Regulatory Agency (PPPRA).

The Petroleum Products Pricing Regulatory Agency, which is responsible for setting the price of petroleum products in the country, announced the new pump price band will be N121.50 to N123.50 per litre in new directive sent to marketers dated May 31, 2020.

One litre will now sell for between N121.50 to N123.50.

This is the third time the pump price of petrol would be reviewed in 2020.

The federal government had on March 18 reduced the pump price from N145 to N125 per litre.

It later on March 31 further announced a price band of N123.50 to N125 per litre.