Jonathan has done it, Reduces petrol pump price to #87

The Federal Government on Sunday announced a reduction in the pump price of petrol from N97 to N87.
The announcement was made by the Minister of Petroleum Resources, Diezani Alison-Madueke.
The new price regime takes effect from the midnight of January 18, 2015.
The Petroleum Products Pricing Regulatory Agency and the Department of Petroleum Resources were ‎directed to effect the price change with immediate effect.
The change was occasioned by the fall in global price of crude oil.
Briefing State House correspondents on Sunday, Alison-Madueke said: “As you may be aware, there has been a lot of volatility in price of petroleum products, particularly crude oil, over the last few months.
“Invariably, this has meant that the price of the product in Nigeria has also been greatly impacted.
“It is as a result of this under the approval and directive of Mr. President and in line with Section 6 Clause 1 of the Petroleum Act‎ that it is my responsibility as the Minister of Petroleum to announce that there will be a reduction in the pump price of petroleum (premium motor spirit) by N10.
“Therefore, the reduction will be from N97 per litre to N87 per litre effective as of midnight Sunday, the 18th of January 2015.
“In line with this, I have directed the Petroleum Product ‎Pricing Regulatory Agency and the Directorate of Petroleum Resources to ensure there is strict adherence to this new pricing regime as soon as it takes effect from midnight Sunday, 18th of January 2015.
“I do hope the entire country will benefit immensely from this reduction in the pump price of petrol.
“We think it is actually time to reduce the price.
“We have been watching very carefully for the last two weeks to ensure that the volatility did not destabilise this particular reduction in price and we think is safe‎ to implement it at this time.”