BREAKING: GLOBAL CRUDE OIL PRICE CRASH: President Buhari approves reduction of pms price to N125

Following the global crash of crude oil, President Muhammadu Buhari has approved reduction of price of petrol (pms).

President Buhari has also directed Nigeria National Petroleum Corporation to reduce ex coastal and ex depot prices of pms to reflect the current market realities.

The President said the reduction will provide relief to Nigerians and framework for sustainable supply of pms to the country.

Recall that the the backlash of disagreement between Saudi Arabia and Russia with the worsening spread of covid -19 pandemic are factors that have caused the crash of oil price globally.