FG reduces pump price of fuel from N97 to N87 per litre.

statement by The Petroleum Minister

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