FG denies reinstating fuel subsidy

The Minister of State for Petroleum Resources and the Nigerian National Petroleum Company Limited have denied reports claiming that petroleum subsidy has been reinstated by the Tinubu-led government.

Recall that the immediate past governor of Kaduna state, Nasir El-Rufari, recently claimed that the Federal government is still paying subsidy for fuel.  

Reacting to the claim, the Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, asked anyone making such claims to come forward with evidence.

“I don’t want to delve into that issue. It is a very sensitive issue. It is better we get all the facts. As far as I’m concerned, the President removed the subsidy and it remains removed till today. Anybody who is saying that subsidy is being paid, it is left for the person to bring the facts and then we will talk about them.”

When questioned if the current petrol price is influenced by market dynamics, the minister responded

“While it may not be solely influenced by market forces, let us focus on addressing the current price. Every government has a duty to do certain things, not only in the petroleum sector but in several other sectors, to be able to cushion the effect and burden on Nigerians.”

Also speaking, the Chief Corporate Communications Officer of NNPC Plc, Olufemi Soneye, emphasized that the national oil company has ceased subsidizing petrol.

“We are recovering our full costs from the products we import. It is important to emphasise that the subsidy is no longer in place. Contrary to allegations, the petrol subsidy has not been reinstated” he said

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