Petroleum Products Pricing Regulatory Agency (PPPRA), has announced a reduction in the pump price of petrol.

The new price of N123.50 will take effect 1st of April 2022 which is N1.50 lower than the N125 per litre announced on March 18.

Abdulkadir Saidu, PPPRA executive secretary in statement, said “in line with the government approval for a monthly review of premium motor spirit (PMS) pump price, I hereby announces guiding PMS pump price of N123.50 per litre.

“The guiding price, which becomes effective April 1, 2020, shall apply at all retail outlets nationwide for the month of April, 2020.

“The PPPRA and other relevant regulatory agencies shall continue to monitor compliance to extant regulations for a sustainable downstream petroleum sector.

“Members of the public and all oil marketing companies are to be guided , accordingly.”