(READ) FG Reduces Pump Price of Fuel To N87

What Diezani Alison-Madueke said
this evening as she announced a
reduction in fuel price...

As you may be
aware, there has
been a lot of
volatility in the oil
market in the past
few months and
due to this the
importation prices
of our petroleum
products have
been impacted.
Therefore, with the
approval and
directive of Mr.
President and by
virtue of Section 6
clause 1 of the
Nigerian Petroleum
Act, it is my
responsibility as
Minister of
Petroleum
Resources to
hereby announce a
reduction in the
pump price of
Petroleum Motor
Spirit (Petrol) from
the current Ninety
Seven Naira
(=N=97) per litre
pump price down
to Eighty Seven
Naira (=N87=) per
litre pump price,
effective from
twelve (12)
midnight Sunday,
18th of January
2015.

Accordingly, I have directed the
Petroleum Products Pricing
Regulatory Agency (PPPRA) and the
Department of Petroleum Resources
(DPR) to ensure strict compliance of
this price adjustment by all
marketing companies.
It is my hope that all Nigerians will
benefit from this adjustment. I
thank you and God Bless you all.
Diezani Alison-Madueke
(Mrs.) CON
Honourable Minister of Petroleum
Resources