Buhari Directed NNPC To Pay Fuel Subsidy–Baru

By Ikenga Chronicles December 30, 2017

Buhari Directed NNPC To Pay Fuel Subsidy–Baru

The Nigerian National Petroleum Corporation(NNPC) said President Muhammadu Buhari authorised the payment of fuel subsidy.

NNPC Boss, Maikanti Baru made this disclosure on Friday during a brief interview with State House correspondents at the Presidential Villa shortly after he performed Friday’s Islamic prayers.

The NNPC chief was reacting to the confusion thrown up by his revelations in Abuja last Friday.

Recall that NNPC boss stirred the hornet’s nest when he disclosed that the landing cost of fuel has jumped to N171.

The state oil firm has however maintained that the N145 per litre price subsists, raising questions on who foots the bill of the minimum N26 differential; especially as such estimates are not contained in the 2017 and 2018 budgets.

On Friday, Mr. Baru said Mr. Buhari authorised the payment of the ‘subsidy’ by NNPC, to ease the pains of Nigerians.

“Do you want me to remove subsidy?” he said in response to questions demanding clarifications on the subsidy.

“What I am saying is that the landing cost as should be sold in the pump without under-recovery should be N171.40.

“However Mr. President has directed that we should maintain all the parameters to ensure that it is sold at N145 per litre. And that is why we are selling at depot at N133.28.8,” he explained.