NEWS

No More Subsidy On Petrol Says NNPC GMD

NNPC logo and tower

The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC) Mr Mele Kyari has said petrol pump price will no longer subsidised.

Speaking on Monday, Kyari in response to a question on whether or not the government was still paying subsidy on petrol, said, “There is no subsidy and it is zero forever.

He added that “going forward there would be no resort to either subsidy or under recovery of any nature.”

“NNPC will play in the marketplace, it will just be another marketer in the space. But we will be there for the country to sustain security of supply at market price,” Kyari said.

While restating NNPC was a transparent organisation, Kyari said the National Oil Company was probably the only company in the world that publishes its monthly financial and operations reports.

He said the corporation was proud of the initiative, stressing that he guaranteed Nigerians of NNPC’s commitment and observance of transparency and accountability in all its transactions.

Meanwhile,  as part of its contribution to build a robust healthcare for Nigeria, the oil and gas industry has expressed its readiness to embark on the construction of, at least, two hospitals and a world class diagnostics center in each of the geopolitical zones in the country, in addition to the 250 temporary bed facilities had it offerd to support government’s efforts in the fight against Cronavirus pandemic.

Kyari stated that the hospitals and the world class diagnostics centers would be an addition to the regular Corporate Social Responsibility (CSR) initiatives of the Upstream and Downstream companies, as well as service providers operating in the oil industry.

A press release by the Group General Manager, Group Public Affairs Division of the NNPC, Dr. Kennie Obateru, quoted Kyari as saying that all commitments from the industry would be collected in kind and handed over to the Presidential Taskforce for the Covid-19, stressing that the petroleum industry would use its clear and transparent governance framework, collection and distribution processes already emplaced in respective companies to support the country’s healthcare infrastructure in this troubling times.

“We and all our partners, comprising the Upstream, Downstream and service providers, decided to come together to respond in three thematic areas. First is the provision of medical consumables such as facemasks and testing kits among others. Secondly, the medical logistics and patients’ support issues such as ventilators and oxygen generating plants. The third leg is provision of temporary isolation centres and the establishment of permanent medical infrastructure that will be of use during this period and after the pandemic is stemmed,” Kyari explained.

 

He informed that the oil and gas industry in the country would liaise with the various state governments and emplace a sustainable and efficient governance structure to manage the health facilities established by the Industry long after COVID-19 has been brought under control.

According to him, NNPC and partners have a streamlined programme for the distribution of these items on weekly basis to the nook and cranny of the nation from the three clearing houses in Abuja, Lagos and Port Harcourt.

Poll

Subscribe To Newsletter


NNPC MONTHLY OIL AND GAS REPORT JULY 2020T


CLICK IMAGE TO DOWNLOAD FULL REPORT IN PDF

NPC Monthly Report
Click to comment

Contact Us!

Leave a Reply

Your email address will not be published. Required fields are marked *

Most Popular

To Top