BREAKING : Federal Govt. Reduces Fuel Pump Price To N125 Per Litre

0

Fuel Pump Price image 

Shocking news reaching Ejes Gist Nigeria now is that the Federal Government has ordered the NNPC to adjust the price of fuel to reflect global market realities.

According to a briefing from the Federal Executive Council (FEC), the new pump price of petrol is now 125 naira.

The President ordered that the adjustment takes effect immediately.

Giving the directive on behalf of the President, Mr Timipre Sylva told newsmen that compliance by petroleum marketers is to be enforced by the NNPC and the PPPRA.

 

ALSO READ :  Lagos State Suspends Religious Gathering Of Over 50 People

Mr Sylva, the minister of state for petroleum resources noted that the price slash will affect all products, adding that their prices are also to be set by the PPPRA and the NNPC.

He further revealed that the ministry is also adopting a price modulation mechanism so the price of petroleum products can be regulated as the market dictates.

According to the minister, it is believed that this measure will have a salutary effect on the economy, provide relief to Nigerians and will provide a framework for the sustainable supply of PMS to Nigeria.

He assured that the Ministry of Petroleum Resources will continue to encourage the use of compressed natural gas to complement PMS utilization as a transport fuel.

Mr Sylva had last week said the government was in consultation with relevant stakeholders on the possibility of reducing the price following the crash in crude oil prices in the international market.

Following the outbreak of the coronavirus, the prices of crude oil globally have witnessed sharp deeps.

Brent Crude has been sold for $35.44 per barrel while Bonny Light has been sold at $33.63 dollars per barrel, these values are way below the $57 per barrel benchmark for the 2020 budget.

JOBS RECOMMENDED 4 YOU  

  1. United Bank for Africa Plc (UBA) 2020 Job Recruitment –3 Positions
    Massive Recruitment at Fortune Marine & Energy Services Limited
  2. Massive Recruitment at  Oyo  state civil service commission 
  3. 2020 Massive Recruitment at The American University of Nigeria
  4. Ongoing Jobs Recruitment in a Reputable Plastic Manufacturing Company in Lagos

RECOMMENDED LINKS


LIKE OUR PAGES TO GET LATEST UPDATES

7,251FansLike
600,234FollowersFollow
353FollowersFollow

LATEST POST

Covid-19-support Loan , cbn loan


For Breaking News, or Eye witness report Contact us on: SMS/Whatsapp: +2347033247217 Email: [email protected].com


NOTE :  No Genuine Employer will Request for MONEY from Job Seekers


The views expressed in this article are the Author/writer’s, they do not reflect the views of EJES GIST NEWS. Please report any fake news or defamatory statements to [email protected]

LATEST JOBS IN NIGERIA

TOP TRENDING POST

MOST POPULAR JOBS

HOT JOBS RECOMMEND FOR YOU

Polaris Bank Limited 2020 Recruitment for Cashiers

Federal University of Kashere 2020 Job Recruitment

Hot Job Vacancies at Federal Medical Centre, Keffi

Edo State College of Agriculture 2020 Massive Recruitment

 Vacancies at Flour Mills of Nigeria Plc

Federal University of Kashere 2020 Job Recruitment

University of Ilorin Teaching Hospital (UITH) latest Job Vacancies

Dangote Refinery Recruitment for June 2020 –9 Positions

Stanbic IBTC Bank Recruitment Form 2020,

Edo State College of Agriculture 2020 Massive Recruitment

Federal Ministry of Agriculture and Rural Development (FMARD)

Lagos State Teachers Recruitment 2020 for NCE, B.Sc

2020 Massive recruitment at American University of Nigeria

2020 Massive Recruitment at Ekiti State College of Agriculture and Technology

HotJobs at Federal University of Technology

TYPE HERE TO QUICK SEARCH FOR JOBS & NEWS


Click Here To Get Latest Jobs In Your Inbox Everyday

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.