NNPC: no more payment of oil subsidy

Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mallam Mele Kyari, has said Nigeria would no longer pay subsidy on petrol with the ongoing global oil price decline.
 
Kyari made this known in a statement signed by NNPC spokesman, Dr Kennie Obateru, in Abuja on Monday. “There is no subsidy and it is zero forever, going forward there will be no resort to either subsidy or under recovery of any nature.
 
“NNPC will play in the marketplace, it will just be another marketer in the space. But we will be there for the country to sustain security of supply at market price,” Kyari said. He stated that NNPC is a transparent organisation, probably the only company in the world that publishes its monthly financial and operations reports…
 
More details through:
https://thenationonlineng.net/nnpc-no-more-payment-of-oil-subsidy/
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