• July 24, 2021

FG Slashes Pump Price Of Petrol

By Franca Joseph (AGENDAWATCHDOG) – The federal government has ordered the reduction of pump price of petrol from N168 per litre to N162.44 per litre, according to the Minister of Labour and Employment, Chris Ngige, who said the slash will take effect from December 14, 2020.

Ngige, who revealed this during a media chat at the end of a meeting with labour leaders on Tuesday, also said that a technical committee has been established by the larger house to ensure price stability in the oil industry, adding that the committee will be  reporting back to the lager house on the 25 of January next year, which will then study the market dynamics and every other thing that will make for stability in the industry.

READ ALSO: #Autogas: FG Says Nigerian Car Owners Must Pay N250,000 For Conversion

Following its increase by the Petroleum Products Marketing Company, a subsidiary of the Nigerian National Petroleum Corporation, NNPC, Premium Motor’s Spirit [PMS] currently sells at N168,

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