Due to the increased effect of the Coronavirus pandemic on the economy, Petrol price has been reduced to 123naira per liter.
This was announced by the Government through the Petroleum Products Pricing Regulatory Agency (PPPRA).
The new Petrol price is N1.50 lower than the N125 per litre announced on March 18th.
“The PPPRA, in line with the government approval for a monthly review of premium motor spirit (PMS) pump price, hereby announces guiding PMS pump price of N123.50 per litre. The guiding price, which becomes effective April 1, 2020, shall apply at all retail outlets nationwide for the month of April, 2020. The PPPRA and other relevant regulatory agencies shall continue to monitor compliance to extant regulations for a sustainable downstream petroleum sector. Members of the public and all oil marketing companies are to be guided , accordingly.” he said