fbpx
Connect with us

Hi, what are you looking for?

BUSINESS

Breaking: Fuel Price now 125 per liter in Nigeria

Fuel price has dropped to N125 per liter from N164.

The Nigerian government on Wednesday announced the reduction of the pump price.

A statement by Nigerian National Petroleum Corporation, NNPC, said the move was in compliance with the directives of the Honourable Minister of State for Petroleum Resources on petrol pricing.

The corporation said it has reviewed its Ex-coastal, Ex-depot and NNPC Retail pump prices accordingly.

“Effective 19th March 2020, NNPC Ex-Coastal price for PMS has been reviewed downwards from N117.6/litre to N99.44/litre while Ex-Depot price is reduced from N133.28/litre to N113.28/litre,” Mele Kyari, NNPC Group Managing Director said.

“These reductions will therefore translate to N125/litre retail pump price.

“Despite the obvious cost implication of this immediate adjustment to the Corporation, NNPC is delighted to effect this massive reduction of N20/litre for the benefit of all Nigerians.

“Accordingly, all NNPC Retail stations nationwide have been directed to change the retail pump price to N125/litre.”

Advertisement. Scroll to continue reading.

Earlier on Wednesday, President Muhammadu Buhari ordered a reduction in the pump price of petrol from its current official price of N145 per litre.

The Minister of State for Petroleum, Timipre Sylva, had announced this in a statement.

Mr Sylva said the president’s directive is because of the drop in the international oil price.

Oil price has dropped drastically in the global market due to trade war between Saudi Arabia and Russia, and Nigerians have called for the federal government to drop the price in the country.

NewIssues Magazine
Written By

NewIssues Magazine is a monthly magazine based in Abuja, with a widely reach daily online news stories and analysis. We are ALWAYS in the HEART of NEWS

Click to comment

Leave a Reply

Your email address will not be published.

COVID-19 UPDATES

COVID-19

By George Onmonya Daniel  Boss Mustapha’s Taskforce on Covid 19 is gradually falling apart. This is because nobody is listening to them and complying...

Advertisement

Facebook

Trending Today

Nigeria

By George Onmonya Daniel Members of the Islamic Movement in Nigeria, also known as the Shi’ites who have been protesting in Abuja to demand...

ANALYSIS

By Aliyu Maina Senator Kashim Shettima, Senator Abubakar Kyari, Senator Mohammed Ali Ndume are all senators from Borno state. I believe they are very...

NEWS

Major General Lamidi Adeosun, the Chief of Training and Operations of the Nigerian Army has been promoted to Lt. General. There is all indication...

POLITICS

IDespite condemnation from some Nigerians over the attack on Senator Ekwerenmadu in Germany where he went to attend a Yam festival, a lot of...

ANALYSIS

By George Onmonya Daniel  Late last year, to be precise, in December, NEWISSUES conducted a poll in which we asked people all over Northern...

featured

Most of us (bloggers) are non-professionals. That’s why organizations like CDD are training fact-checkers to tame the fake news merchants. Such a training is...

featured

US based Professor Farooq Kperogi has revealed that he got information that Buhari’s Special Adviser and son of his nephew, Sabiu “Tunde” Yusuf, has amassed...

NEWS

The man who was seen in a video who attempted to grab the president was shot, Daily Trust confirmed. Afterwards he was whisked to...

Nigeria

Mr. Eeben Barlow, South African military contractor, who’s company was sub-contracted to find the Chibok girls by the Goodluck Jonathan government, has told Aljazeera...

POLITICS

Senator Dino Melaye has declared his intention to run for the office of the governor of Kogi State. Mr. Dino Melaye told elders of...

featured

Few weeks ago NEWISSUES Magazine did an analysis on the five worst governors in Northern Nigeria. Today we are going to look at the...

NEWS

There has been rumor of the president divorcing his wife and planning to marry an old flame since Aisha Buhari left Nigeria.  By George...