Written by on September 10, 2020

The Nigerian National Petroleum Corporation (NNPC) has defended the Federal Government’s decision to remove the subsidy on petrol, insisting that allowing market forces determine practices was in the overall interest of the poor.
Group Managing Director of the Nigerian National Petroleum Corporation, Malam Mele Kyari, says petrol subsidy was corruption-ridden and only served the interest of the elite.
Kyari in an interview said the move to deregulate the market took a long while because it was difficult convincing President Muhammadu Buhari to sign off on the move because he (Buhari) was worried that the poor would be negatively affected by higher prices.
NNPC boss argued that the anger being expressed by the people due tothe growing prices of the product may be justified but noted that it was grossly misplaced.

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