Buhari approves reduction of Petroleum pump price to N130

President Muhammadu Buhari earlier today approved the reduction of the pump price of the Premium Motor Spirit (PMS) also known as petrol from N145 to N130.



This is said to be part of the decisions reached during Wednesday’s Federal Executive Council (FEC) meeting in Abuja according to a report by Tribune.

Minister of State for Petroleum Resources, Timipre Sylva, last week said the government was in consultation with relevant stakeholders on the possibility of reducing the price following the crash in crude oil prices in the international market.