Connect with us

    Hi, what are you looking for?

    News

    FG denies reinstating fuel subsidy

    FUEL

    Minister of State for Petroleum Resources and the Nigerian National Petroleum Company Limited have denied reports claiming that petroleum subsidy has been reinstated by the Tinubu-led government.

    Recall that the immediate past governor of Kaduna state, Nasir El-Rufari, recently claimed that the Federal government is still paying subsidy for fuel.

    Reacting to the claim, the Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, asked anyone making such claims to come forward with evidence.

    “I don’t want to delve into that issue. It is a very sensitive issue. It is better we get all the facts. As far as I’m concerned, the President removed the subsidy and it remains removed till today. Anybody who is saying that subsidy is being paid, it is left for the person to bring the facts and then we will talk about them.”

    When questioned if the current petrol price is influenced by market dynamics, the minister responded.

    “While it may not be solely influenced by market forces, let us focus on addressing the current price. Every government has a duty to do certain things, not only in the petroleum sector but in several other sectors, to be able to cushion the effect and burden on Nigerians.”

    Also speaking, the Chief Corporate Communications Officer of NNPC Plc, Olufemi Soneye, emphasized that the national oil company has ceased subsidizing petrol.

    “We are recovering our full costs from the products we import. It is important to emphasise that the subsidy is no longer in place. Contrary to allegations, the petrol subsidy has not been reinstated” he said.

    Loading

    Spread the love
    Click to comment

    Leave a Reply

    Your email address will not be published. Required fields are marked *

    ad

    You May Also Like

    News

    Nigerian billionaire and Senator, Ned Nwoko, has refuted the recent viral claims of domestic violence made by his wife, actress Regina Daniels. In a...

    News

    Former U.S. National Security Advisor John Bolton has been indicted on 18 counts of transmitting and retaining classified information, becoming the third prominent critic...

    Tech

    Kashifu Inuwa Abdullahi, CCIE, Director General, National Information Technology Development Agency (NITDA), has reaffirmed Nigeria’s commitment to leveraging Artificial Intelligence (AI) for national development,...

    News

    TD Africa, leading technology solutions aggregator in Sub-Saharan Africa, has officially announced the onboarding of Zinox Technologies into its basket of global brands. This...