Fuel: We May No Longer Continue To Bear ‘Subsidy Burden’ — NNPC GMD Hints Increase In Petrol Price
3 weeks ago Dammylink 0
General managing director (GMD) of the Nigerian National Petroleum Corporation (NNPC), Mele Kyari, says the company cannot continue to bear the subsidy burden.
Speaking with journalists at the Presidential Villa, Abuja, Kyari said the NNPC can no longer bear the burden. “The price could have been anywhere between N211 and N234 to the litre.
The meaning of this is that consumers are not paying for the full value of the PMS that we are consuming and therefore someone is paying that cost,” he said.
As we speak today, the difference is being carried in the books of NNPC and I can confirm to you that NNPC may no longer be in a position to carry that burden.”