NIGERIAN NATIONAL PETROLEUM CORPORATION LAMENTS PAYING OF 120-BILLION-NAIRA MONTHLY TO SUBSIDISE PETROL
Written by wave FM on March 26, 2021
The Nigerian National Petroleum Corporation (NNPC) says it pays 120-billion-naira every month to subsidise Premium Motor Spirit (PMS), also known as petrol.
NNPC Group General Manager (GMD), MELE KYARI, disclosed this at the weekly presidential ministerial media briefing at the State House in Abuja.
He lamented that the burden placed upon NNPC by the ongoing subsidisation of the cost of petrol in the country was overwhelming.
As a result of this, KYARI said Nigerians would have to pay the actual cost for petrol sooner or later, noting that the product was currently being sold below the cost of importation.
Edited by Chinwendu Nwani