Group Managing Director of Nigerian National Petroleum Company Limited, Mele Kyari, has said that the administration of President Bola Tinubu has concluded an arrangement to have one of the four refineries repaired and operating at an optimal level before the end of the year.
He appealed to Nigerians to be patient as the President is working out some palliative measures to ease the pains of Nigerians. Kyari said;
“I’m aware that Mr president has directed some engagements and some palliatives will be put in place. I am very sure this will happen. There is an ongoing process of rehabilitation. One of them will come this year, the second one will come on stream next year and then the third will follow thereafter.
“Of course, it is very obvious that we can no longer afford subsidy. Subsidy bills have piled up. The country is not able to settle NNPC for the money we are spending on subsidy. Therefore pricing this petroleum at the market price is the right thing to do at this point in time and I believe it would benefit the country in the long term.”
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