The Nigerian National Petroleum Company Limited has said the Federal Government can no longer afford to pay for fuel subsidy. It noted wealthy Nigerians mostly benefited from the subsidy, and that the subsidy regime was no longer sustainable. The NNPCL’s Executive Vice-President, Gas, Power and New Energy, Mohammed Ahmed, made this known during the third opportunity session, “Gas Opportunities”, at the Nigerian Oil and Gas Opportunity Fair 2023. It had the theme, ‘The oil and gas industry: Catalyst and fuel for the industralisation of Nigeria’. “But I want to say, by and large, subsidy or no subsidy, we have to graduate from diesel to gas and PMS to gas.

Source: Punch May 20, 2023 13:05 UTC