The Nigerian government has ordered the reduction of pump price of petrol 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.

805 thoughts on “UPDATE!!! Federal Government Reduces Pump Price Of Petrol”
  1. 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.

  2. Abeg they should reduce the price o, so that transport fare also should be reduced, and we can put on our generators for hours, BEDC self is not helping matters in my area…

  3. They shouldn’t have reduced it we are in a critical and difficult time now things are hard people like the poor we suffer only the rich enjoys gosh.