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FG to Reduce Petrol Price to N85 in Jan 2016

According to a Premium Times News report, the Federal Government of Nigeria may reduce the pump petrol prices to N85 per litre as from January 1, 2016.

This was made known by the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu during a visit to the Port Harcourt Refining Company in Rivers State on Friday. He also announced his signing off of a new pricing template that removes the payment of subsidy on petrol.

It was also cited in the news report that Mr. Kachikwu believes the country can no longer subsidise, and must figure out a way to reflect the true reality of the crude market.


Source: Premium Times

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Ify Halim is a Writer and media enthusiast based in Lagos. She enjoys writing self-help/inspirational articles with published work in UYD Magazine, Edufrica, Our Stories Inc. and The Keele Concourse. She currently works at, Nigeria’s Information Portal. Follow her on Twitter @MissHalim or visit her online space at

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