January 03, (THEWILL) – The Nigerian National Petroleum Company (NNPC), Limited has debunked reports that it clashed with oil marketers or any other party, over payment of subsidy on Premium Motor Spirit (PMS), commonly known as petrol.
The Punch Newspaper, on Tuesday, reported that the company and oil marketers under the aegis of the Independent Petroleum Marketers Association of Nigeria (IPMAN), clashed over the removal of subsidy on petrol.
It also reported that the oil marketers disclosed that the subsidy on petrol, was increasing considering the crash of the naira against the United States dollar and the cost of crude oil, stressing that PMS should sell for N1,200/litre in a free market. It further added that fuel subsidy was not removed but reduced.
However, in a swift reaction, Chief Corporate Communications Officer of the National Oil Company, Olufemi Soneye, in a statement on Wednesday, said, the NNPC has not clashed with any party over subsidy removal.
Soneye further insisted that subsidy payment on petrol has been removed by the Federal Government and not reduced as being insinuated.
The statement reads: “NNPC Ltd emphasises it has not clashed with any party.
“The Punch headline is deemed unfortunate. The publication sought confirmation on the alleged subsidy reduction, to which NNPC responded that the subsidy has been entirely removed.”
