Group Managing Director of NNPC, Mele Kyari
NNPC: Fuel subsidy removal has reduced cross-border smuggling
The removal of fuel subsidies in Nigeria has significantly curbed the smuggling of petrol across its borders, according to Mele Kyari, the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPC).
Speaking to Channels TV on Sunday, Kyari explained that before the subsidy was scrapped, a large price disparity between Nigeria and neighbouring countries made smuggling highly lucrative.
READ ALSO:
The removal has now aligned fuel prices, reducing the financial incentive for illegal cross-border transport of Premium Motor Spirit (PMS).
Kyari described the subsidy removal as a “game-changer,” noting that price parity across borders has led to a marked decline in smuggling activities.
He also said that this development ensures that consumers in Nigeria are now paying fair prices for fuel.
Jetour set to ignite Lagos with four-day automotive experience Lovers of sophisticated and elegant…
EFCC Debunks Fake Wanted Poster of Sabinus The Economic and Financial Crimes Commission (EFCC) has…
Israel Questions Pakistan’s Credibility as Mediator in US‑Iran Ceasefire Talks Israel has publicly doubted Pakistan’s…
Making Up for Lost Sleep Might Be Healthier Than Experts Once Believed — What Science…
Sleeping Positions: How They Affect Your Health and Which Ones to Avoid Sleep is essential…
Thousands Rally Across Iran to Honour Late Supreme Leader Khamenei Thousands of Iranians took to…