The Federal Government of Nigeria has announced a further reduction in the price of Premium Motor Spirit (PMS) also known as Petrol to N123.50 per litre, from N125.
This is coming less than a month after slashing fuel price to N125 from N140, as made public by the Presidential Assistant on New Media, Bashir Ahmad.
This is in line with the price modulation that was set up by the current administration recently.
Bashir made the announcement on the micro-blogging platform, Twitter.
“FLASH: The PPPRA, in line with the Federal Government approval for a monthly review of Premium Motor Spirit (PMS) pump price, announces Guiding PMS pump price of N123.50 per Litre. The new price takes effect from today, April 1, 2020,” He wrote.