NNPCL backs Tinubu on fuel subsidy removal
Written by Joey Shekwonuzhibo on May 30, 2023
The Nigerian National Petroleum Company Limited, NNPCL, has welcomed the pronouncement of President Bola Tinubu on the removal of fuel subsidy.
The President, in his inaugural address yesterday declared an end to the era of subsidy payment, saying the 2023 budget made no provision for fuel subsidy, so further payment was no longer justifiable.
Responding in an emergency press conference at the NNPC Towers, Abuja, NNPCL told Nigerians that the move was in the best interest of the company.
According to the GCEO of the company, Mele Kyari, the company has been spending a substantial amount of its profits in the subsidy of the product.
Kyari however says there was no need for panic buying as fuel queues had been noticed in some areas of the FCT.
As reactions continue to trail President Bola Tinubu’s resolve to remove petrol subsidy and unify forex rates, another one is that of the Nigeria Labour Congress, NLC, which says the President was merely flying a kite and would not have the courage to do it.
President of Nigeria Labour Congress, NLC, Joe Ajaero, in brief text said the comment on fuel subsidy removal is not well thought out, coming as an inaugural speech.
Ajaero further says it will draw the economy of the country backward by over 50 percent within the next forty-eight hours, adding that Nigerians will speak in one accord at the appropriate moment.
Similarly, Osun State Government earlier today, described hoarding of petrol by marketers as a result of the removal of fuel subsidy by President Bola Tinubu as inhumane and an act of wickedness.
It also threatened to seal any filling station in the state caught hoarding the product with deliberate act to unleash suffering on the masses.
In a statement issued by the Governor’s Spokesperson, Olawale Rasheed, he says the state government will not tolerate the action of marketers, describing it as unpatriotic.