The Group Chief Executive Officer of the Nigeria National Petroleum Commission Limited, Mele Kyari, has said that the subsidy regime has
“By law, the subsidy regime is gone by February 17, 2022. But of course, the government can always decide to spend on its citizens, in the manner that it wants. There are subsidies on bread, fertiliser, and all kinds of other things all over the world. But the government in its wisdom, decided that there would be an appropriation for subsidy in 2022, and also provision for subsidy till the second half of 2023. That means that provision is made, but the law still applies in the market”.
He, however, said that the government could only spend what it had, stating that the “government did not fund the subsidy because it didn’t have the money to fund it.” Kyari also said that he didn’t see the queues across the country, staying beyond Saturday, stating that there was an adequate supply of fuel in depots, towns, and fuel stations across the country.
“I do not see it staying beyond Saturday. The key problem with the PMS system is supply, so I have supplied it. There are over 810 million litres of PMS, or petrol in depots, and in towns and fuel stations across the country,” he said.All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from PUNCH.
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