The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari on Thursday said the removal of fuel subsidy is final, insisting that there is no going back on the policy.
He said this during a consultative meeting with the National Working Committee (NWC) of the ruling All Progressives Congress (APC), at the party’s National Secretariat in Abuja.
Addressing the party’s highest administrative organ, the NNPC Chief argued that the economy of the country can no longer sustain the subsidy regime
The nation reports that NNPC argued that contrary to the widely held notions, the rich rather than the poor remains the major beneficiary of the fuel subsidy regime.
Admitting that the removal policy would visit untold hardship on Nigerians, he expressed optimism that the attendant cost of living that would come with the measure would fizzle out in due course