We establish Central Limit Theorems for the volumes of intersections of $B_{p}^n$ (the unit ball of $\ell_p^n$) with uniform random subspaces of codimension $d$ for fixed $d$ and $n\to \infty$. As a corollary we obtain higher order approximations for expected volumes, refining previous results by Koldobsky and Lifschitz and approximations obtained from the Eldan--Klartag version of CLT for convex bodies. We also obtain a Central Limit Theorem for the Minkowski functional of the intersection body of $B_p^n$, evaluated on a random vector distributed uniformly on the unit sphere.