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FG TO REDUCE FUEL PRICE TO N85

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The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, has disclosed to journalists that the Federal Government may reduce fuel pump price to 85 Naira by January 1 next year.

Pressed to reveal when the new price would become effective, Kachikwu, said “like I said, we have done a modulation and it is showing us below N87. I imagine that if PPPRA publishes it today, it will become effective immediately. But the 1st of January 2016 is when we are looking at.”