Nigeria’s President Muhammadu Buhari has ordered the approval of fuel price from N145 per liter to N125, according to a statement by State Minister for Petroleum Resouces, Timipre Sylva, this afternoon in Abuja.
The decision of Nigeria’s president to reduce the price of PMS from N145 per liter to N125, is because of crude oil price fall to $25 per barrel, as coronavirus demand destruction collides with Saudi-Russia Price war.
BREAKING: President Muhammadu Buhari has approved the reduction in pump price of premium motor spirit (PMS) from N145 per liter to about N125, State Minister for Petroleum Resouces, Timipre Sylva confirmed in a statement this afternoon in Abuja. pic.twitter.com/rizT1DntWX
— Bashir Ahmad (@BashirAhmaad) March 18, 2020