President Muhammadu Buhari may have approved the reduction of pump price of the Premium Motor Spirit (PMS) also known as petrol from N145 to N130.
A reliable presidential source, who disclosed this to The Nation at the Presidential Villa on Wednesday, said the approval may have followed a presentation by the Minister of State on Petroleum Resources, Chief Timipre Sylva, to the ongoing Federal Executive Council (FEC) meeting at the Villa.
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According to the source, who would not want to be named, Sylva had made a request to the FEC for the reduction of pump price of the product, citing the drop in the price of crude oil at the global market.
