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President Buhari Orders Reduction In Pump Price

ABUJA, NIGERIA - The Nigerian National Petroleum Corporation, NNPC, was today directed to reduce the pump price of petrol to reflect the current crash in the global price of crude oil.

The directive came from President Muhammadu Buhari through Minister of State, Petroleum Resources, Timipre Sylva, 

It would be recalled that President Muhammadu Buhari had earlier been briefed by the Minister. 

Timipre Sylva, who also made a presentation to the Federal Executive Council on Wednesday said: “The drop in crude oil prices has the expected open market price of imported petrol below the official pump price of 145 per litre. 

“Therefore, the FG is directing the NNPC to reduce ex-coastal and ex-depot prices of PMS to reflect the current market realities.”

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