BUSINESS

Collapse of Oil Price: FG crashes price of PMS to N125 per litre

Published

5 years ago

March 18, 2020

IPMAN directs members to reduce fuel pump price over election postponement

The Federal Government has directed the Nigerian National Petroleum Corporation (NNPC) to reduce the pump prices of Premium Motor Spirit (PMS) from N145 to N125 per litre to reflect the current market realities.

The Minister of State for Petroleum Resources, Mr Timipre Sylva, confirmed this development when he addressed State House correspondents on the outcome of the meeting of the Federal Executive Council (FEC).

The Council meeting was presided over by President Buhari at the Council Chamber of the Presidential Villa, Abuja.

Sylva disclosed that the reduction in prices would also affect other petroleum products like Kerosine and diesel.

He said the reduction was in line with the Buhari administration to cushion the hardships being experienced by Nigerians.

Related Topics:125 crash FG Fuel litre petrol pms price

Up Next

BREAKING: NNPC retail stations to begin sale of fuel at N125

Don't Miss

Coronavirus: Arik Air suspends flights to West Coast

NEWSVERGE

NEWSVERGE, published by The Verge Communications is an online community of international news portal and social advocates dedicated to bringing you commentaries, features, news reports from a Nigerian-African perspective. A unique organization, founded in the spirit of Article 19 of the Universal Declaration of Human Rights, comprising of ordinary people with an overriding commitment to seeking the truth and publishing it without fear or favour. The Verge Communications is fully registered with the Corporate Affairs Commission of the Federal Republic of Nigeria as a corporate organization.