The Group Managing Director of Nigeria National Petroleum Corporation NNPC, Mele Kyari, says the corporation can no longer bear the over N120 billion monthly subsidy for Premium Motor Spirit (PMS).
Kyari stated this during the weekly media briefing organised by the Presidential Communication Team at the State House, Abuja, on Thursday.
According to him, the actual cost of importation and handling charges amounts to N234 per litre, while the government is selling at N162 per litre.
He added that the NNPC absorbs the cost differential, which is recorded in its financial books.
Kyari, however, stated that seeing that NNPC may want to now not bear the price, subsequently, Nigerians might ought to pay the real cost for the commodity.
According to the GMD, the NNPC can pay between N100 billion and N120 billion a month to keep the pump price on the current degrees.
He stated that marketplace forces ought to be allowed to decide the pump fee of petrol inside the us of a.
“Our modern-day intake (evacuation) from our depots is about 60million litres consistent with day. We are selling at N162 a litre. The contemporary market rate is 234, the real market price today.
“The distinction between the 2, extended by 60million, instances thirty, will come up with in keeping with month.
“This is a easy calculation you do. If you want precise figures from our e-book, I do now not have it from this moment, however it’s between N100billion and N120billion in line with month.
“We are setting the difference in the books of NNPC, and we can not retain to bear,’’ he stated.
The Minister of State for Petroleum Resources, Timipre Sylva, who also spoke on the occasion, expressed the desire that the Petroleum Industry Bill (PIB) might be handed into law in April.
According to him, frantic efforts are being made by the legislators to complete paintings at the invoice and skip it, in keeping with the aspirations of important stakeholders in the petroleum region.
“The National Assembly has expressed the purpose to pass the PIB into regulation by means of April 2021. Every attempt is being made to help the National Assembly to meet this goal,” he stated.
No comments:
Post a Comment