The Federal government has reduced the fuel pump price to N130/litre from 145/litre.
The reduction in the price of Petroleum Motor Spirit is coming on the back of biting economic times caused by the global pandemic, Coronavirus which has in turn led to a drastic fall in the price of crude oil in the global market.
The federal government made the approval for reduction in fuel pump price on Wednesday after Minister of State for Petroleum, Timipre Sylva made a presentation to the Federal Executive Council. This is seen as a way to make life easier for Nigerians in the period of the pandemic.
Nigeria, on Wednesday announced it now has eight confirmed cases of Coronavirus from its previous three.
The federal government has since placed a travel ban on government officials and advised Nigerians not to travel, while on Wednesday, it announced 13 countries including China, the UK and the US have been restricted from entering the country.