Monday, 19 January 2015

# Africa News # Diezani Allison-Madueke

Nigeria Cuts Fuel Price From N97 To N87 per Litre

Nigeria, Africa’s largest economy and largest crude producer, on Sunday, announced a reduction in the pump price of premium motor spirit (petrol) from N97 to N87 ($0.5) per litre. The reduction came as a result of the continued slump in global oil prices.

The Minister of Petroleum, Diezani Allison-Madueke, who is also the the chairperson of OPEC, made the announcement on the country’s network station, the Nigerian Television Authority (NTA).

“I will like to announce the reduction in the price of Premium Motor Spirit by N10. Therefore, the reduction would be from N97 per litre to N87 per litre and this would be effective from midnight Sunday, January 18, 2015. In line with this I have directed the Petroleum Products Pricing Regulatory Agency (PPPRA) and the Directorate of Petroleum Resources to ensure that there is strict adherence of this regime as it takes effect from midnight Sunday, January 18. I do hope that the entire country will benefit immensely from this reduction of the pump price,” Allison-Madueke said.

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