The group chief executive officer (GCEO) of Nigeria National Petroleum Company Limited (NNPCL), Mele Kyari, has disclosed that President Bola Tinubu has ordered the putting in place of palliatives to cushion the effect of removal of fuel subsidies on Nigerians.
He also insisted that there was no going back on subsidy removal, as it was quite apparent that Nigeria can no longer afford the subsidy payment.
The NNPCL boss, who disclosed these after meeting behind closed doors with members of the National Working Committee (NWC) of the ruling All Progressives Congress (APC) at the party’s national secretariat in Abuja on Thursday, said the NNPCL won’t continue to be the sole importer of oil in the country.
Kyari stated: “There is a gradual process now of making a flexible and single-effect regime. Everyone will be able to have access to foreign exchange and there is a transition going on now.
