Petrol May Sell at N340/Litre From 2022 - NNPC
Category: Nigeria News
The Nigerian National Petroleum Company (NNPC) on Tuesday hinted that a litre
of Petroleum Motor Spirit (PMS) may sell between N320 and N340 in 2022.
It
said this was because the law does not provide for a subsidy, hence its
removal in the coming year.
The Company’s Group Managing
Director(GMD)Malam Mele Kyari, made the disclosure during his presentation at
the World Bank Nigeria Development Update, November 2021 edition titled “Time
for Business Unusual” in Abuja.
According to him, the law provides
that by the end of February 2022, the nation should be out of the subsidy
regime.
“There will be no provision for it legally in our system,
but I am also sure you will appreciate that government has a bigger social
responsibility to cater for the ordinary and therefore engage in a process
that will ensure that we exit in the most subtle and easy manner,” he said.
He
further blamed the hike in prices of cooking gas on demand and supply issues
as there was a global crunch on supply of gas and many countries were now
threatened by lack of supply in December.
He added that the product
was not under any subsidy regime and therefore irrespective of where it was
produced, would follow the global trend.
However, he assured that
the company was working on increasing local production to meet the needs of
consumers.
Let God punish this people
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