Due to Coronavirus, Petrol Price Drops From N145 to N125 Per Litre - Focus News

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Thursday, 19 March 2020

Due to Coronavirus, Petrol Price Drops From N145 to N125 Per Litre

   

   The Federal Government of Nigeria has approved new price for the petrol from N145 initial retail pump price to N125/litre new pump  price. This decision was made following the global crash of crude oil  as a result of spreading of deadly Coronavirus. 



 The price of Petrol was dropped to N125 from N145 following the presentation given by the Minister of State,  Petroleum,  Mr Timipre Sylvia to the Federal Executive Council on Wednesday and the price was approved by President Muhammadu Buhari.



Nigerian government and the Nigerian National Petroleum Corporation confirmed the new price of N125 per litre and made it known to the general public through the official tweetd of the two body. 
   The new price is expected to take effect today has been said via the official of NNPC.  Oil price crashed due to the global unprecedented outbreak of Coronavirus which has affected all world economy greatly.  Oil was sold for about $60 per barrel last December,  now dropping to about $29 as Tori reported



This created an hint that Nigerians would likely experience price reduction on Premium Motor Spirit (PMS) as briefed by the Minister of Petroleum last week. He said that, the government was consulting on whether to cut the pump price of petrol and would come up with a decision soon.



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Do you think citizens are going to benefit from the new oil price from the price transporters charged for their journey before? Your opinion matters kindly share it with us

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