Petrol to sell at N123.50 beginning from today April 1st

The Federal government through the Petroleum Products Pricing Regulatory Agency (PPPRA), has declared a decrease in the siphon cost of petroleum.

An announcement marked by the PPPRA Executive Secretary, Abdulkadri Saidu, says the new retail cost of petroleum would be N123.50 starting from today April first.

The new cost is N1.50 lower than the N125 per liter declared on March eighteenth.

"The PPPRA, in accordance with the administration endorsement for a month to month survey of premium engine soul (PMS) siphon cost, thusly reports managing PMS siphon cost of N123.50 per liter. The controlling value, which becomes compelling April 1, 2020, will apply at all retail outlets across the nation for the long stretch of April, 2020. The PPPRA and other pertinent administrative offices will keep on observing consistence to surviving guidelines for a practical downstream oil area. Individuals from the general population and all oil promoting organizations are to be guided , appropriately." he said

Review that on March 18, the Federal Executive Council had affirmed a decrease of petroleum siphon cost from N145 to N125.

After the cut of petroleum siphon cost was declared, PPPRA reported that the national government endorsed a month to month survey of petroleum cost to reflect worldwide raw petroleum showcase patterns.