Farewell, Fuel Subsidy: NNPC Embraces New Horizons

Eko Hot Blog reports that the Nigeria National Petroleum Company, NNPC limited, has welcomed the decision by the Federal governrnent  to remove subsidy on Premium Motor Spirit PMS otherwise known as petrol.

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Addressing the press, the Group Chief Executive Officer of NNPC Limited, Mallam Melle Kyari says “the removal of the subsidy, which has been a burden on NNPC’s cash flow, will  free up funds to enable optimal operations in the company.”

Reacting to scarcity already being experienced, Kyari assured Nigerians of sufficient supply of the product. He said  “NNPC is also monitoring all its distribution networks to ensure compliance” he maintained.

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Recall that Nigeria’s new President, Bola Tinubu, in his inaugural address to the nation on Monday, announced the total removal of fuel subsidy in Nigeria.

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