No Dispute With Marketers -NNPC, Says ‘Subsidy Entirely Removed’

The Nigerian National Petroleum Company (NNPC) Limited on Wednesday denied that it had a dispute with independent petrol marketers over an alleged subsidy on Premium Motor Spirit (PMS).

There were reports that fuel marketers under the aegis of the Independent Petroleum Marketers Association of Nigeria, IPMAN clashed with the NNPC over whether the government was still paying subsidy.

However, in a terse statement sent to Channels Television on Wednesday, NNPC spokesman, Olufemi Soneye, said subsidy has been entirely removed on petrol.

“NNPC Ltd emphasises it has not clashed with any party,” Soneye said, adding that the publication’s headline (not Channels Television) was unfortunate.

“The publication sought confirmation on alleged subsidy reduction, to which NNPC responded that subsidy has been entirely removed.”

In his inaugural speech on May 29, 2023, President Bola Tinubu declared that the subsidy era is gone.

He said the 2023 budget made no provision for fuel subsidy, and subsidy payment was no longer justifiable.


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