THE Nigerian National Petroleum Company Limited – NNPCL, has backed President Bola Tinubu’s decision to remove fuel subsidy.
In his inaugural address on Monday, Tinubu declared an end to the era of subsidy payment, saying the 2023 budget did not make provision for the policy.
In an apparent response to President Tinubu’s declaration on fuel subsidy, the NNPCL in an emergency press conference in Abuja, said that the move was in the best interest of the company.
GCEO of the company, Mele Kyari, said that the NNPCL has been spending a substantial amount of its profits in the subsidy of the product
Kyari however told Nigerians not to engage in panic buying of fuel, saying that the company had enough product to supply the country for the next 30 days.