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President Muhammadu Buhari's government has ordered that the pump price of petrol be reduced.
 Petrol
The federal government has ordered reduction in price of petrol.
The government ordered the reduction from N168 per litre to N162.44 per litre.
Minister of Labour and Employment, Chris Ngige said the reduction would take effect from December 14, 2020.
Ngige disclosed this while speaking with journalists at the end of a
meeting with labour leaders which began at 9pm on Monday and ended at
1:30 am on Tuesday.
He said a technical committee has been set up by the larger house to ensure price stability in the oil industry.
The minister disclosed that the committee, which will report back
to the lager house on the 25 of January next year, will be appraising
the market forces and every other thing that will make for stability in
the industry.
Premium Motor’s Spirit [PMS] currently sells at N168, after it was
increased by the Petroleum Products Marketing Company, a subsidiary of
the Nigerian National Petroleum Corporation, NNPC. |
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