The Federal Government of Nigeria has reduced the price of petrol to N87 per litre. It claimed the reduction is in accordance with the sudden drop in the prices of crude oil in the international market.

The Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke, made this announcement while briefing State House correspondents at the Presidential Villa, Abuja.

She ordered the Petroleum Products Pricing Regulatory Agency and the Directorate of Petroleum Resources to ensure an immediate effect in the change across the nation.

She said, “As you may be aware, there has been a lot of volatility in the price of petroleum products, particularly crude oil, over the last few months. Invariably, this has meant that the price of the product in Nigeria has also been greatly impacted.

“It is as a result of this, under the approval and directive of Mr. President and in line with Section 6 Clause 1 of the Petroleum Act, that it is my responsibility as the minister of Petroleum to announce that there will be a reduction in the pump price of petrol (Premium Motor Spirit) by N10.

“Therefore, the reduction will be from N97 per litre to N87 per litre effective as from midnight, Sunday January 18, 2015.

“In line with this, I have directed the Petroleum Product Pricing Regulatory Agency and the Directorate of Petroleum Resources to ensure that there is strict adherence to this new pricing regime as soon as it takes effect from midnight Sunday, January 18, 2015.

“I do hope the entire country will benefit immensely from this reduction in the pump price of petrol.”

Source - http://www.nigerianheadlines.com/fg-reduces-petrol-price-n87-per-litre/

It doesn't change anything.
Countdown to GEJ returning to Otueke has just begun.

Hmm

Long over due since crude oil price is less than half of what it was when we bought fuel at N97/Liter. nice pressure from the opposition [APC].
Its called healthy competition and dividends of democracy.

well dey havemade enof ova d last few month of oil decline..... dey now have to take i to consideration d electn whch is around d corner