President Muhammadu Buhari ordered a reduction in the pump price of petrol from N145 to N125 last month.

The Nigerian Government has reduced the price of petrol from N125 per litre to N123.5.

“Motor Spirit pump price hereby announces guiding PMS pump price of N123.50 per litre,” Nigeria’s Petroleum Products Pricing Regulatory Agency (PPPRA) executive secretary Abdulkadir Saidu said in a statement.

Saidu noted that the agency and other regulatory agencies will monitor compliance to extant regulations, and urged all oil marketing companies and members of the public to be guided accordingly.

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