- Kyari attributed the recent fuel shortage in some states and Abuja to factors such as poor roads, competition among marketers, and foreign exchange challenges.
- Tinubu administration recently negotiated with Labour, implementing palliative measures such as a provisional wage increment.
The federal government, on Monday, October 9, refuted claims that Nigeria has restored subsidy for premium motor spirit (PMS), also known as petrol.
The effective end of the subsidy regime was announced by President Bola Tinubu on May 29 at Eagle Square, Abuja, during his inauguration as president.
However, the elimination of the fuel subsidy was followed by significant economic consequences, which prompted protests from organised Labour.
Just last week, the Tinubu administration reached a deal with Labour that included the execution of some palliative measures, including a provisional pay increase.
Oil marketers and a section of organised Labour have recently alleged that the government had restored the subsidy, contrary to its earlier resolve, claiming that with the removal of the subsidy, fuel pump price stability, despite fluctuations, is unexplainable.
However, responding to journalists’ questions at the Presidential Villa, Abuja, after a meeting with President Tinubu, Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari, said there is no fuel subsidy at all.
He said: “I told you there’s no subsidy whatsoever, we are recovering our full cost from the products that we import. We sell to the market, we understand why the marketers are unable to import. We hope that they do this very quickly and these are some of the interventions the government is doing. There is no subsidy.”
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