Petrol price has been reduced to N125 per litre as Coronavirus continues to have negative
impact on the economy.
The pandemic disease which has spread across countries in Europe and Africa has made
the Nigerian Government reduce the pump price for Petrol which is the most used
commodity in the country.
According to the Federal Government via a post on their official social media platforms, the
new price modulation will be managed by the Petroleum Product Pricing Regulatory Agency.
Following the outbreak of the coronavirus, the prices of crude oil globally have witnessed
sharp deeps.
Brent Crude has been sold for $35.44 per barrel while Bonny Light has been sold at $33.63
dollars per barrel, these values are way below the $57 per barrel benchmark for the
2020 budget.
Meanwhile latest news reports has it that the Lagos State government has banned the
gathering of religious activities that are more than 50 People.
Earlier today four new cases of COVID-19 has been reported and one death recorded in
Enugu so far.
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