f:I[48173,["9344","static/chunks/9081a741-c61dd986cfa0c828.js","6408","static/chunks/00cbbcb7-c04264a14f470d4a.js","8173","static/chunks/8173-fc6c345d757cc6f6.js","7970","static/chunks/7970-6e0129b3de8ddbd6.js","3539","static/chunks/3539-02bf90933f94c836.js","6937","static/chunks/6937-3bd12da95143b93b.js","8827","static/chunks/app/(dashboard)/account/news/%5Bid%5D/edit/page-ce509fe7e2acda80.js"],""] 10:I[76937,["9344","static/chunks/9081a741-c61dd986cfa0c828.js","6408","static/chunks/00cbbcb7-c04264a14f470d4a.js","8173","static/chunks/8173-fc6c345d757cc6f6.js","7970","static/chunks/7970-6e0129b3de8ddbd6.js","3539","static/chunks/3539-02bf90933f94c836.js","6937","static/chunks/6937-3bd12da95143b93b.js","8827","static/chunks/app/(dashboard)/account/news/%5Bid%5D/edit/page-ce509fe7e2acda80.js"],"UpdateNewsForm"] 11:T762,

The Federal Government yesterday, announced the reduction of the pump price of Petroleum Spirit (PMS) to N87.00 per litre with effect from last midnight.

The percentage change between the old and new price is about 10.30per cent.

Already, the Petroleum Product Price Regulatory Agency (PPPRA) has been directed to immediately effect the new change.

Briefing State House correspondents, the Minister of Petroleum, Dieziani Alison- Madueke, explained that the change was in view of recent reduction in the global price of crude oil.

She said: “We think it’s actually time to reduce the price we have been watching very carefully for the last two weeks to ensure that the volatility did not destabilise this particular reduction in price and we think it is safe to implement it at this time.

“As you may be aware, there has been a lot of volatility in price of petroleum product 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 directiv

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