Again, Buhari Reduces Petrol Pump Price from N125 to N123.50

In the early hours of Wednesday, April 1, the Nigeria’s President, Muhammadu Buhari government has announced further reduction of the pump price of Premium Motor Spirit (PMS), also known as petrol.

The Buhari government said the product has been reduced from N125 to N123.50k per litre.

According to the Personal Assistant to President Buhari on Media, Bashir Ahmad on his Twitter account, saying the new price takes effect from Wednesday, April 1, 2020.

“FLASH: The PPPRA, in line with the Federal Government approval for a monthly review of Premium Motor Spirit (PMS) pump price, announces Guiding PMS pump price of N123.50 per Litre. The new price takes effect from today, April 1, 2020. Read more on @PPPRAtweets’ timeline”.

Meanwhile, the Petroleum Products Pricing Regulatory Agency (PPPRA) made the announcement in a statement Tuesday night by the Executive Secretary, Abdulkadir Saidu.

“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.”

Saidu assured that said PPPRA and other regulatory agencies would continue to monitor compliance.

The agency had on March 18 reduced the pump price of PMS from N145.00 to N125.00.

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