President Goodluck Jonathan, through his Minister of Petroleum Resources, Mrs. Diezani Allison-Madueke, today, announced a N10 reduction on the price of Premium Motor Spirit, otherwise known as fuel or petrol. The product which hitherto sold for N97 will henceforth sell for N87 and this is with immediate effect. The price reduction, obviously, is in line with the downward trend in the prices of oil products globally. Although some people are already attributing it to the forthcoming Saturday, February 14, 2015 presidential election where he is seeking a re-election.
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