The federal government of Nigeria has announced the reduction of petrol pump price from N168 per litre to N162.44 per litre with effect from December 14, 2020.
Minister of Labour and Employment, Chris Ngige disclosed this while speaking with journalists at the end of a meeting early this morning with labour leaders in Abuja.
Ngige said a technical committee has been set up by the larger house to ensure price stability in the oil industry.
The minister disclosed that the committee, which will report back to the lager house on the 25 of January next year, will be appraising the market forces and every other thing that will make for stability in the industry.
Recall that the Buhari-led administration had recently jerked up the price of petrol per litre on two occasions in quick succession.
