Oil price: Wetin pipo dey tok on top reduced cost of petrol pump price for Nigeria

Producers: Olubunmi Okunnu, Dan Ikpoyi

On March 18, 2020, Nigeria goment approve make price of fuel come down from N145 to N125 per litre.

So, we enta street early mor mor today to torchlight di mata.

Nigeria president Muhammadu Buhari on Wednesday approve fuel price to reduce sake of di crash for global crude oil price.

For inside statement wey Nigeria Minister of State for Petroleum Resources release, im say di drop for crude oil price don lower di expected open market price of petrol wey dem import below di official pump price of N145 per litre.

Na because of di situation Nigeria president direct make price reduce to reflect di current market reality.

Di new price of petrol now na N125 according to di order from President Buhari.

Goment don also direct di Nigeria National Petroleum Corporation, NNPC, to reduce ex-coastal and ex-depot prices of fuel make e reflect wetin dey happun for market.

Di outbreak of coronavirus don affect crude oil prices globally as one barrel of crude dey sell for $29 instead of $60 wey be di price for December.

Crude oil price fall wey Nigeria 2020 budget bin put hope on na sometin wey still dey unfold and fit worse pass as e be as di market still dey react.