Petrol To Sell At N123.50 In April, Says PPPRA

The Petroleum Products Pricing Regulatory Agency (PPPRA) has announced that the price of petrol for the month of April is N123.50 per litre.
This was announced in a statement signed by Abdulkadir Saidu, PPPRA Executive Secretary, on Tuesday.
The new price is a N1.50 reduction from the N125 per litre price announced on 18 March by Timipre Sylva, the Minister of State for Petroleum Resources.
“The PPPRA, in line with the government approval for a monthly review of premium motor spirit (PMS) pump price, hereby announces guiding PMS pump price of N123.50 per litre.
“The guiding price, which becomes effective April 1, 2020, shall apply at all retail outlets nationwide for the month of April, 2020.
“The PPPRA and other relevant regulatory agencies shall continue to monitor compliance to extant regulations for a sustainable downstream petroleum sector.
“Members of the public and all oil marketing companies are to be guided accordingly,” the statement read.
Following the approval of price reduction of petrol from N145 to N125 by the Federal Executive Council earlier in the month, the PPPRA had said the federal government approved a monthly review of petrol price to reflect global crude oil market trends.