The Federal Government of Nigeria has announced a slash on Fuel prices in the country, their reason was because of the drop in crude oil prices on the back of the spread of coronavirus.
The Petroleum Products Pricing Regulatory Agency has announced a new pump price band of N121.50 to N123.50 per liter for Premium Motor Spirit, also known as petrol.
The pump price of petrol, which is still being regulated by the Federal Government, was reduced to N125 per litre from N145 per liter on March 18, 2020, effective March 19. The PPPRA further announced on March 31 a price band of N123.50 to N125 per litre, effective April 1.
