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Nigeria reduces fuel price

The Nigeria Government has announced an immediate reduction  in the pump price of Premiun Motor Spirit from the exisiting N70 per litre to N65 per litre.

A Government statement said the reduction is in response to failing Oil prices in the global market.  This is the first time that the Nigerian Government will voluntarily reduce the Price of Petrol; past reductions had been in reaction to agitations by labour and civil society groups.