President Muhammadu Buhari has approved the reduction of pump price of the Premium Motor Spirit (PMS) also
known as petrol from N145 to N125.
A
reliable presidential source, who disclosed this at the Presidential Villa on
Wednesday, said the approval may have followed a presentation by the Minister
of State on Petroleum Resources, Chief Timipre Sylva, to the ongoing Federal
Executive Council (FEC) meeting at the Villa.
According
to the source, who would not want to be named, Sylva had made a request to the
FEC for the reduction of pump price of the product, citing the drop in the
price of crude oil at the global market.
Details
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