The announcement came after a meeting with President Bola Tinubu, where Kyari was accompanied by Farouk Ahmed, the Chief Executive Officer of the Nigerian Mainstream and Downstream Petroleum Regulatory Authority (NMDPRA).
During the press conference, Kyari expressed his support for President Tinubu’s recent statement in his inauguration speech, signaling the end of the subsidy regime. He emphasized that the current subsidy burden had become unsustainable, hindering the NNPCL’s ability to allocate funds for its primary operations.
Recall, NNPCL in February 2023, under the Buhari administration took over the assets of the nation’s oil company (NNPC) after 46 years of its operations as a corporation.
