NNPC GMD, Mele Kyari, Announces That Petrol Pump Price Will Increase In 2022 To N320 To N340 Per Litre, After The Removal Of Subsidy

The Group Managing Director, GMD, of the Nigerian National Petroleum Corporation, NNPC, Mele Kyari, has on Tuesday, said that subsidy would have been eliminated in 2020, but certain factors prevented it, adding that, it will most definitely come to an end in 2022, and the pump price of petrol may now range between N320 and N340 per litre, Page 36 learnt.

He said that the Law provides that by the end of February 2022, the nation should be out of the subsidy reign.

Kyari stated this at the presentation of the World Bank Nigeria Development Update, November 2021 edition, titled: ‘Time for Business Unusual’.

His words: “There will be no provision for it legally in our system, but I am also sure you will appreciate that government has a bigger social responsibility to cater for the ordinary, and therefore, engage in a process that will ensure that we exit in the most subtle and easy manner.

“Fuel subsidy removal would definitely be achieved in 2022, as it was now fully backed by Law. The price of the product may range between N320 and N340 per litre.”

More news later…

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