Tuesday, 8 December 2020

Nigeria Slashes Petrol Price!

Federal Government has caved in to demand by the organised labour by slashing the pump price of premium motor spirit by N5.

By this reduction, the new price of a litre of petrol will now be N162.44.

The government said the new price template will come into effect as from Monday next week.

Addressing journalists shortly after the meeting with labour leaders that lasted till midnight, Minister of Labour and Employment, Senator Chris Ngige, said the meeting was fruitful.

He said: “Our discussion was fruitful and the Nigerian National Petroleum Corporation (NNPC) which is the major importer and marketers of petroleum products and customers have agreed that there will be a slide down, of the pump price of PMS and that the price cut will get us about N5 per litre and that the price cut will take effect from next Monday, a week today.”

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