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.
Super Falcons bounce back as Oshoala sinks Zambia despite red card Nigeria’s Super Falcons returned…
St. Janet, Nigeria's 'General Overseer of Sinners' Chapel,' Dies After Brief Illness Iyun Janet Ajilore,…
Peller, Jarvis' Glamorous Lagos Wedding: N400m Mansion, $20,000 Gift, Over 50,000 Virtual Guests Nigeria's favourite…
Atiku Accuses Obasanjo of Distorting History, Defends Role in Third-Term Battle ABUJA – Former…
INEC publishes Tinubu, Shettima’s credentials for public scrutiny ahead of 2027 election The Independent National…
Policy Bottlenecks Threaten Nigeria's Clean Mobility Drive, LCCI Warns The Chairman of the Auto and…