‘We can’t continue to bear subsidy burden’ — NNPC GMD hints increase in Petrol Price
General Managing Director (GMD) of the Nigerian National Petroleum Corporation (NNPC), Mele Kyari has expressed that the company cannot continue to bear the bill of a N120billion every month to subsidise Premium Motor Spirit (PMS).
Kyari made this known while speaking with journalists on Thursday at the Presidential Villa, Abuja.
He lamented that the burden placed upon NNPC by the ongoing subsidisation of the cost of petrol in the country was overwhelming and as a result of the huge sum being paid, Nigerians would have to pay the actual cost for petrol sooner or later.
“The price could have been anywhere between N211 and N234 to the litre. The meaning of this is that consumers are not paying for the full value of the PMS that we are consuming and therefore someone is paying that cost,” he said.
“As we speak today, the difference is being carried in the books of NNPC and I can confirm to you that NNPC may no longer be in a position to carry that burden.”
that is too bad to hear……
Clueless government,.
To be buying PMS at such amount will amount to wickedness my the government
Can’t this present administration think of goodness of their citizens for once
The burden they are putting on the citizens is unbearable for now without selling it at such amount
When are we going to enjoy the dividends of democracy, selling the PMS at such amount will be nothing less but evil