Subsidy removal: NNPC opens up on deadline for cessation of fuel queues
The Nigerian National Petroleum Company Limited (NNPCL) predicts that the fuel lines that greeted the recent removal of subsidy will soon disappear.
On Monday, during his inaugural address at the Eagle Square in Abuja, President Bola Tinubu declared that the era of fuel subsidy payments had ended, resulting in a nationwide price increase.
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In addition, fuel lines reappeared across the nation as Nigerians scrambled to obtain the premium product, whose price increased from approximately N185 per litre to between N400 and N600 per litre.
The Group Chief Executive Officer of NNPCL, Mele Kyari, stated during an interview on Channels Television’s Politics Today that fuel lines will soon be a thing of the past.
The 5th of June, Kyari assured Nigerians that the current situation will not last, as the NNPC is diligently working to overcome obstacles.
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“I don’t see it lasting more than another day or two,” the NNPCL chief said. “I do not foresee lines lasting beyond Saturday.”
“The primary issue with the PMS system is its supply,” Over 810 million litres of petroleum are stored in depots, tanks and petrol stations across the nation.
Therefore, there is no issue with transferring these. This indicates that you have supplies in your home. People panic and rush to petrol stations to purchase fuel. They are now aware of the pricing certainty, so they must return.”
That is the latest Naija News today on Subsidy removal: NNPC gives deadline for cessation of fuel queues
