Petrol at 145 Naira Per Litre is not Harmonious with FG's Liberalisation Policy – NNPC

Date:

Former Group Managing Directors (GMDs) of the Nigerian National Petroleum Corporation (NNPC) say the petrol price cap of 145 Naira per litre is not harmonious with the liberalisation policy of the Federal Government.

Thank you for reading this post, don't forget to subscribe!

A statement by the NNPC’S spokesman Mr Garba Mohammed, said the 145 Naira per litre price cap did not go well together with the liberalisation policy when factors such as the foreign exchange rate, crude cost and Nigerian Ports Authority charges remain uncapped.

The former NNPC GMDs made this position known at the end of a one-day meeting put together by the NNPC’S Group Managing Director Dr Maikanti Baru.

The stakeholders are also expressing concern over the declining production level of crude oil in Nigeria and its consequences on the environment and the nation’s revenue.

They pointed out that if the current situation was left unchecked, it could lead to the crippling of the NNPC and the nation’s oil and gas sector.

The stakeholders are also worried about the level of the NNPC’S debt profile and advised that, as a matter of urgency, the NNPC should establish the true state of its current financial status and immediately decide on the most appropriate capitalisation model.

Share post:

Subscribe

Popular

More like this
Related

Soldiers Massacre: “Defense Headquarters Reveals Identities of Fallen heroes in Okuoma Community Attack”

The Defense Headquarters has revealed the identities of the...

US warned Niger about ties to Russia, Iran before junta revoked accord, Pentagon says

WASHINGTON, March 18 (Reuters) - U.S. officials traveled to...

“Potential Trump Presidency: Concerns Rise Over US-Africa Relations”

If Donald Trump secures victory in November's US presidential...

“Sanwo-Olu, Anyaoku, Adebanjo, and Others Call for New Nigerian Constitution”

SANWO-OLU, ANYAOKU, ADEBANJO, OTHERS DEMAND NEW NIGERIAN CONSTITUTION ...

Discover more from Naija247news

Subscribe now to keep reading and get access to the full archive.

Continue reading