The Chief Executive of the Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari, on Tuesday met with President Bola Tinubu at the Presidential Villa, Abuja, telling correspondents afterwards that the federal government is owing the company the sum of N2.8 trillion that it had already paid on petrol subsidy.
He affirmed that the subsidy is no longer sustainable as it has made it impossible for the company to have funds to channel into its core businesses.
Kyari said the petrol queues that have resurfaced are understandable as marketers will like to understand the meaning of the president’s pronouncement that “subsidy is gone.”
He said that the uncertainty on the remarks also caused consumers to rush for the product and causing queues.
Tribune reports that the NNPCL boss assured that the government will initiate measures to cushion the effects of the removal of subsidy.
Join our twitter community :