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Why NNPC is charging Nigerians higher for fuel – FG

The Federal Government on Wednesday explained why the Nigeria National Petroleum Corporation (NNPC) is charging Nigerians higher than the official N143 per litre to fund the importation of petrol.

Minister of Finance, Kemi Adeosun gave the explanation at of the four-and-half hours Federal Executive Council (FEC) meeting, presided over by President Muhammadu Buhari.

Adeosun, briefing State House Correspondents at the Council’s briefing room of the Presidential Villa, explained that though technically there is no more subsidy paid to oil marketers, the NNPC was currently under-recovering as the sole importer of product and selling at less than cost price, thereby losing huge sums of money to defray the extra costs of importation of fuel products.

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About Delia Innoma

Delia Innoma is a prolific writer, promoter, artist manager with full professional proficiency in English, German and Igbo languages. She studied accounting and computer programming at the Institute of Management and Technology Enugu and Germany respectively. Delia is also a devoted mother of two and she founded the Diamond Celebrities Magazine. Her sense of responsibility and commitment to the Christian faith are essential forces driving her daily activities.

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