In a press conference at the Presidential Villa in Abuja today, Minister of Petroleum Resources, Diezani Alison-Madueke announced the price of fuel will fall from 97 to 87 Naira a litre, and the change should will take effect at midnight, Premium Times reports.
The minister announced that the change reflects the falling crude oil prices in the international market.
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The last time the price of fuel changed in Nigeria was in January 2012, when after public outrage on the announcement of a removal of the subsidy, a compromise was reached and the fuel price was increased from N65 to N97, reducing the government subsidy, but not removing it completely.