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Petrol Price in Nigeria No More N145, See New Price as Fixed by FG

Petrol Price in Nigeria No More N145, See New Price as Fixed by FG

The Federal government of Nigeria has announced a reduction in the retail price of Premium Motor Spirit (PMS) also known as petroleum.

This decision was announced by the State Minister for petroleum resources Timiprey Sylvia during the Federal Executive Council meeting holding today March 18, 2020 in the state house Abuja.

Premium Motor Spirit (PMS) has been sold at N145 since the year 2015 from the initial price of N97 during the Goodluck Jonathan administration.

The new pump price of petroleum is now N130 per liter as announced by the president Muhammdu Buhari administration.

The petrolume pump price was increase by the President Muhammadu Buhari’s administration in a bid to remove the controversial petroleum subsidy.

This new will come as surprising to many Nigerians as it was unexpected, However, the reduction in PMS price may not be unconnected with the coronavirus pandemic which has cause a global downturn in the world economy and the sharp decline in crude oil price which has fell below $30 per barrel within the last few weeks.

What do you think about the new petroleum pump price?

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