Saturday , January 23 2021
Fuel price in Nigeria
Fuel price in Nigeria

The Federal Government of Nigeria may reduce petrol price by N5 from Monday

Fuel price in Nigeria

The Federal Government of Nigeria has agreed to reduce the pump price of Premium Motor Spirit (PMS), known as petrol, by N5 from Monday next week. Sen. Chris Ngige, Minister of Labour and Employment, disclosed this while addressing newsmen at the end of a closed-door meeting with the organised labour on Tuesday in Abuja.

Petrol price to hit N170 as ex-depot price rises to N155
image source: google

The meeting was necessitated by the increase of PMS from N160 per liter to N170 and the increase in electricity tariff.

Petrol price: IPMAN pleads for time - The Nation Nigeria

“Our discussion was fruitful and the Nigerian National Petroleum Corporation (NNPC) which is the major importer and marketers of petroleum product and customers have agreed that there will be a slide down of the pump price of PMS.

“The price cut will get us about N5 per litre and that the price cut will take effect from next Monday, a week from today,” he said.

He noted that the price reduction was not meant to suspend deregulation as it did not affect the price of crude oil. He, however, said that the NNPC as the main importer has agreed that it would cut costs like freight cost and demurrage.

Ngige also said that the government and labor have agreed to wait until the next meeting on Jan. 25, 2021, on the aspect of electricity tariffs.

Info credit: Laila News

Check Also

RFID Implant Credit:Opera

Now People Are Already Getting Implants In Their Hands To Replace Credit Cards In Sweden

Hands To Replace Credit Cards In Sweden Just today A whole lot of individuals in Sweden have …

12 comments

  1. Forget Nigeria and their wahala

  2. Reduce or no reduce, suffer head too much for Nigeria.

  3. I am really enjoying the theme/design of your blog. Do you ever run into any internet browser compatibility issues?
    A small number of my blog audience have complained
    about my blog not working correctly in Explorer but looks great in Firefox.

    Do you have any solutions to help fix this problem?

  4. There is certainly a lot to find out about this issue.
    I love all the points you made.

  5. Hello! I could have sworn I’ve been to this blog before but after browsing through some of the post I realized it’s new to me. Anyways, I’m definitely happy I found it and I’ll be book-marking and checking back frequently!

  6. Hello! I could have sworn I’ve been to this blog before but after browsing through some of the post I realized it’s new to me. Anyways, I’m definitely happy I found it and I’ll be book-marking and checking back frequently!

  7. You made some nice points there. I looked on the internet for the subject matter and found most individuals will agree with your site.

  8. Thanks for the auspicious writeup. It in truth was once a
    entertainment account it. Glance complex to more delivered
    agreeable from you! By the way, how could we keep
    up a correspondence?

  9. At this time I am ready to do my breakfast, after having my breakfast coming yet again to read other news.

  10. I want to to thank you for this good read!!
    I absolutely enjoyed every little bit of it. I have got you book marked to check out new
    stuff you post…

  11. Great goods from you, man. I’ve understand your stuff
    previous to and you’re just extremely fantastic. I really like what you’ve acquired here, certainly like
    what you are stating and the way in which you say it. You make it entertaining and you still care for to keep it wise.
    I cant wait to read far more from you. This is actually a terrific web site.

Leave a Reply

Your email address will not be published.