News
JUST IN: FG Reduces Fuel Price To N162.44 Per Litre
The Federal Government has reduced the pump price of premium motor spirit otherwise know as petrol from N168 per litre to N162.44 per litre effective from December 14, 2020, The Nation reports.
Minister of Labour and Employment, Chris Ngige disclosed this to reporters at the end of a meeting with labour leaders which began at 9pm on Monday and ended at 1:30am on Tuesday.
The product presently sells at N168, following the decision of the Petroleum Products Marketing Company, a subsidiary of the Federal Government – owned Nigerian National Petroleum Corporation to increase the ex-depot price of petrol from N147.67 per litre to N155.17 per litre in November.
The ex-depot price is the price at which the product is sold by the PPMC to marketers at the depots.
ALSO READ: ACNPN To Elect New Leaders Today
The minister said a technical committee has been set up by the larger house to ensure price stability in the industry.
Ngige stated that the committee, which will report back to the lager house on the 25 of January next year, will be appraising the market forces and every other thing that will make for stability in the industry.
-
News20 hours ago
Odogwu Of Ogwashi-Uku Sues For Peace
-
News12 hours ago
Fresh Petition Accuses Yahaya Bello, Ododo, Of Looting, Misappropriating Over N300 Billion LGA Funds
-
News21 hours ago
Why Most Of Us Are Afraid To Practice The Prophetic –Tomi Arayomi
-
Education16 hours ago
Arrest Any Parent Who Comes Near CBT Centre During UTME – JAMB
-
Politics20 hours ago
PDP Caucus Gives Nod To Damagum’s Continuation In Office As Acting Chairman