Nigerian President Muhammadu Buhari, has approved the reduction of the pump price of Premium Motor Spirit (PMS) from N145 per liter to about N125.
This is said to be part of the decisions reached during Wednesday’s Federal Executive Council (FEC) meeting in Abuja.
Recall that the hint of a possible reduction of the pump price of petrol, was given last week, when the Minister of State for Petroleum Resources, Timipre Sylva, said the Federal Government was in consultation with relevant stakeholders on the possibility of reducing the price following the crash in crude oil prices in the international market.
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