The new pump price of petrol, N162.44 per litre, is expected to come on stream today nationwide in keeping with the agreement reached between the federal government and the organised labour.
The government had bowed to pressure from labour to slash the pump price of Premium Motor Spirit (PMS) by N5 from the current N167 per litre.
Labour had insisted on the reversal of the fuel price increase before the government successfully negotiated a middle-ground deal to slash the price by N5.
Also, as part of the truce reached with the organised labour, the government will inaugurate a technical committee to review the framework for the pricing of PMS today to reconsider the petrol price fixing mechanism.
A notice of the event signed by the Deputy Director/ Head of Press and Public Relations, Ministry of Labour and Employment, Mr. Charles Akpan, said Ngige would inaugurate the Technical Committee on PMS Pricing Framework in Abuja.