The President Muhammadu Buhari-led Federal Government has approved a new pump price for premium motto spirit, otherwise known as petrol.
The reduction is from the initial price of N145 to N125 per litre.
The Nation reports that the approval was as a result of the presentation by the Minister of State for Petroleum Resources, Timipre Sylva, to the Federal Executive Council, FEC, on Wednesday on the need to reduce the pump price.
The call to reduce the pump price of fuel became necessary following the fall in global oil prices.
The Federal Government also promised to allow the international price of crude oil to determine the prices of petroleum products in the country.
The outbreak of Coronavirus disease, also known as COVID-19 has also crashed international crude oil price from $60 per barrel to $30 per barrel.
The Minister is currently in a meeting with members of the organized Labour in the oil and gas sector.
Arsenal defender Ben White will be sidelined for “months” following knee surgery, manager Mikel Arteta…
A second-half hat-trick from Harry Kane led Bayern Munich to a 3-0 home victory over…
Nigeria’s Super Falcons have been placed in Group B for the 2024 Women’s Africa Cup…
Russia is turning to migrants to help address a growing labour shortage caused by its…
Three family members of Mallam Ahmed Tahir Ajobe, a former editor at Daily Trust, were…
The Celestial Church of Christ, Acts of Apostle Parish in Ketu, Alapere, Lagos, has been…