Goverment to reduce petrol price by January 1

Lagos - The Federal Government would on
January 1 next year reduce the pump price of
petrol to N85 per litre, reports Sahara Reporters
The Minister of State for Petroleum, Dr.
Emmanuel Ibe Kachikwu said this in the Port
Hacourt, while inspecting the refinery on
Christmas day.

According to him, the new price is below the
current N87 per litre and it would now convince
Nigerians that the pricing modulation that the
Federal Government promised to embark on a
few days ago was not a trick.
He noted that following government's analysis
and research, it has been realized that the
country can fluctuate the fuel market in
accordance with the crude oil market
fundamentals.