NNPC Reveals How Much Nigerians May Pay for Litre of Petrol after Subsidy Removal in 2022.
The General Managing Director of the NNPC, Mele Kyari has said that Nigerians will pay between N320 and N340 per litre after petrol subsidy removal in 2022.
The NNPC boss confirmed that fuel subsidy removal will be achieved in 2022, saying it has now been backed by law Meanwhile, the minister of finance, budget and national planning, Zainab Ahmed, said N5000-a-month transportation grant will be paid to poorest Nigerians after subsidy removal Your support matters.
Malam Mele Kyari, the Group Managing Director and Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPC), says Nigeria should be out of subsidy regime by the end of February 2022.
Petrol price may rise to N340 per litre in 2022 as Nigeria appears set to do away with the subsidy regime.
Kyari added that by February 2022, there will be no provision for subsidy legally, PM News also reported.
He, however, said the Nigerian government has a bigger social responsibility to cater for the ordinary and will ensure that the subsidy regime is exited in the most subtle and easy manner.
According to him, fuel subsidy removal would definitely be achieved in 2022 as it was now fully backed by law.
The NNPC chief added that the price of the product may range between N320 and N340 per litre after the removal of subsidy.