Nigeria lowers oil price ahead of presidential vote

Diezani Alison-Madueke, Nigeria’s Minister of Petroleum

Africa’s largest oil producer Nigeria on Sunday announced a cut in petrol prices, a month before the country votes in presidential and parliamentary elections.

Oil minister Diezani Alison-Madueke told an evening press conference that the price of a litre of petrol would drop from 97 naira to 87 naira (47 US cents) at midnight on Sunday.

The measure was taken with the approval and directive of President Goodluck Jonathan, a candidate in the February 14 polls, she said, taking into account the recent volatility in the oil market.

Read more: Nigeria lowers oil price ahead of presidential vote – Yahoo News.

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