SAN FRANCISCO, January 18, (THEWILL) – The federal government of Nigeria has reduced the price of petrol to N87 ($0.45) from N97 per litre.
Petroleum Resources Minister, Diezani Alison Madueke, who made the announcement on Sunday said the price reduction would take effect at midnight.
The reduction in price follows the crash of the price of crude in the international market.
“The Federal Government has decided to reduce the pump price of petroleum spirit (PMS) to N87 per litre effective midnight 18th Day of January 2015.
“The change is in view of recent reduction in the global price of crude oil,” the Minister told State House Correspondents at the Presidential Villa on Sunday night.
