The Nigerian National Petroleum Corporation has reacted to national issue of bearing increasing burden of fuel subsidy to the country, even as the Federal Government proposes to remove it.
Responding on whether NNPC would continue to shoulder the humungous financial burden of subsidy, the GGM replied, “Yes, the NNPC has not made noise about the burden it is carrying.
“And it is something I cannot pass any judgment on because the higher authorities have spoken. The minister the GMD (Group Managing Director of NNPC, Mele Kyari) have spoken that they are engaging labour.
“This is because labour represents the Nigerian people and it is until the negotiations are concluded that the decision will be taken.”
The Petroleum Industry Act, which was passed in August this year, does not give room for petrol subsidy.
FELLOW PRESS reports that the burden of subsidy had increase owning to increased crude oil price per barrel in the international market and attendant fall in naira.