Petrol Now N87 per Litre, Says Alison-Madueke

Minister of petroleum resources Mrs Diezani Alison-Madueke on Sunday announced a reduction in the pump price of petrol from N97 to N87 per litre. She said it was in a reaction to the fall in the price of crude in the international market. President Goodluck Jonathan gave the directive, she added.

Consequently, she instructed the PPPRA to effect the change in pump price after midnight of January 18, 2015. But it is not clear whether the government  still claims it is subsidising petrol.

Organised labour has asked the government to reduce the price. But Alison-Madueke could have been forced to act by a story in Eyeway and an opinion piece on the back page of LEADERSHIP Sunday, Jan. 18, which says that fuel subsidy never existed. See LEAD, ” What Has Happened to Fuel ‘Subsidy’?”

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