Barely two weeks ago when the pump price of Premium Motor Spirit, PMS was reduced from N145.00 to N125.00 the Federal Government under President Muhammadu Buhari has further reduce the price from N125.00 to N123.50k per litre.
This was made known in a statement singed by the Secretary of Petroleum Products Pricing Regulatory Agency, PPPRA, Abdulkadir Saidu, in Abuja on Tuesday.
It would be recalled that the PPPRA had on March 18 reduced the pump price of PMS from N145.00 to N125.00.
Saidu said, “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.”
According to him, the Agency and other relevant regulatory agencies would continue to monitor compliance to extant regulations for a sustainable downstream petroleum sector.
Saidu reiterated that noted that members of the public and all Oil Marketing Companies are to be guided accordingly.
It noted that from April 1, it would start a new pricing modulation that would reflect the global market fundamental.
Source: (NAN)/Niger-Delta Today