Buhari reduces pump prices

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President Muhammadu Buhari may have approved the reduction of the pump price of the Premium Motor Spirit (PMS) also known as petrol from N145 to N130.

Recall that Buhari’s administration hiked pump prices from 86 to 145 naira.

The Nation quoted a presidential at the Presidential Villa on Wednesday who said the approval may have followed a presentation by the Minister of State on Petroleum Resources, Chief Timipre Sylva, to the ongoing Federal Executive Council (FEC) meeting at the Villa.

According to the source, who would not want to be named, Sylva had made a request to the FEC for the reduction of pump price of the product, citing the drop in the price of crude oil at the global market.

The Nation