Govt. denies fuel subsidy return
Mele Kyari, group chief executive officer of the Nigerian National Petroleum Company Limited (NNPCL), denies the government still pays subsidy on petrol.
Kyari told journalists at the State House, in Abuja, that the state oil company made “some interventions” geared at helping oil marketers who are unable to import the commodity into the country.
“There’s no subsidy whatsoever, we are recovering our full cost from the products that we import.
“We sell to the market; we understand why the marketers are unable to import … and these are some of the interventions the government is doing,” Kyari said, without any specificity on the mode of intervention.
Kyari’s denial contradicts oil stakeholders saying that the government had resumed petrol subsidy payment.
In a recent television interview, Festus Osifo, National President of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), asserted the subsidy payment.
He said the government took the decision as a way out of the rising cost of crude at the international market and exchange rate volatility.
In his inaugural speech, President Bola Tinubu, said petrol subsidy had stopped. The development saw pump price of petrol rise from the N197/litre it was before the revelation to the current N620 it is currently.
