Petrol price: FG don reduce price to N121.50 to N123.50. See wetin dis mean
Di Petroleum Products Pricing Regulatory Agency (PPPRA) don announce new pump price band to between N121.50 to N123.50 per litre for petrol. Before now di price dey around N123.00 to N125.00
General Manager, Corporate Services of PPPRA and also tok-tok persin, Mr. Apollo Kimchi tell BBC say dis new price 'band' go begin take effect from today June 1. "We just make dis new price known today and we also advise marketers to begin comply with dis new price from today. Dis new price na band, dem fit sell N121.50 or N123.50. "We dey expect dem to comply but if dem no comply, we go look for appropriate measures to make dem comply. We also get oda agencies wey go enforce di new price." Dis new price for petrol dey come as oil price dey fall for di global market and coronavirus dey worry every wia for di world. But oga Apollo say di reduction of di price no get anything to do with coronavirus. E say na 'reflection of di reality for market'. "E get some variables wey we dey take into consideration before we come out with prices, covid-19 no be di reason." Wetin pipo dey tok on top Fuel Price reduction Dis na di second time dis year wey di price of petrol dey come down inside Nigeria. Dem bin reduce di pump price of petrol, wey Federal goment still dey control, to N125 per litre from N145 per litre on March 18, 2020, effective March 19. Concerning weda e dey possible for di price to come down again later dis year, oga Apollo say e depend on di market. Weda di market go up or come down.