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Home National

PPPRA further slashes petrol price to N123.50/litre

1st April 2020
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PPPRA further slashes petrol price to N123.50/litre
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Uche Usim, Abuja

The Petroleum Products Pricing and Regulatory Agency (PPPRA) has further reduced the pump price of Premium Motor Spirit (petrol) from N125/litre to N123.50/litre effective April 1.

This was contained in a statement signed by the Executive Secretary and Chief Executive Officer, Abdulkadir Saidu.

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According to Saidu, the downward review of the petrol pump price was in line with federal government’s approval for a monthly review of the vital commodity.

He said: “The guiding price of N123.50/litre which becomes effective 1st April 2020, shall apply at all retail outlets nationwide for the month of April, 2020.

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“PPPRA and other relevant regulatory Agencies shall continue to monitor compliance to extant regulations for a sustainable downstream petroleum sector.

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“Members of the public and all oil marketing companies are to be guided accordingly.

The agency had on March 18 reduced the pump price of petrol from N145.00 to N125/litre following the sharp slump in crude oil prices globally.

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It added from April 1, it would start a new pricing modulation that reflects global market realities.

Ajiri Daniels

Ajiri Daniels

Sun News Online Team

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