Subsidy: Kyari in closed-door meeting with Adamu

The Group Chief Executive Officer of Nigerian National Petroleum Company Limited, Mele Kyari, is currently having a crucial meeting with the National Chairman of All Progressives Congress, Senator Abdullahi Adamu, at the party secretariat in Abuja.

Kyari, who arrived at the premises at about 12.30 pm, was received warmly by the chairman and members of the National Working Committee.

Although the agenda of the meeting was not revealed, sources at the national headquarters of the party said it may not be unconnected with the removal of petroleum subsidy, which was further amplified on Monday by President Bola Tinubu.

Tinubu had affirmed during his swearing-in ceremony that his administration would not continue to pay subsidy on petroleum products.

The Federal Government, Tinubu said, was struggling to fund subsidies, noting that the payment was no longer justifiable.

The development had triggered a 100 per cent hike in transport fares, while long queues resurfaced at fuel stations across Lagos, Abuja, Ilorin, Benin, Asaba, Port Harcourt, Kano, Makurdi and other major cities across the country.
To worsen the situation, many fuel outlets shut their facilities and refused to dispense fuel to motorists, further creating scarcity and panic buying at the fuel stations that were opened to customers.

Similarly, on Thursday, Kyari also allayed the fear of Nigerians on the rising prices of Premium Motor Spirit, better known as petrol across the country.

The NNPC boss opined that competition among major players in the oil sector would force down the price of petrol as against the upward trends that have caused panic in the country.