Federal Govt reduces petrol pump price

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The Federal Government of Nigeria has announced a slight reduction in the pump price of petrol.

The Petroleum Products Pricing Regulatory Agency (PPPRA) gave the new approval on Monday.

The latest directive was contained in a circular to fuel marketers.

A 2 Naira band has been removed from the price of Premium Motor Spirit (PMS).

One litre will now sell for between N121.50 to N123.50.

The PPPRA had on March 31 fixed a price band of N123.50 to N125 per litre.

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