President Muhamamdu Buhari has stated that he would not be tempted to remove petroleum subsidy until full measures are in place to cushion the effect of such removal.
This disclosure was made by the group managing director of the Nigeria National Petroleum Corporation, Dr. Emmanuel Ibe Kachikwu when he addressed the Senate on Wednesday, October 14.
He noted that President Buhari can only entertain discussion on oil subsidy removal when all necessary palliatives are put in place, The Nation reports.
The NNPC boss disclosed that some people in the private sector are gunning for the removal of the subsidy an idea that the president had rejected.
Kachikwu stressed that he totally agreed with the president stance saying unless there is necessary palliatives there would be need for the removal.
Meanwhile, the NNPC had cleared the air on the purported price reduction on Premium Motor Spirit from N57 per stating that the price remained N87 per litre.
The corporation made this known in a press statement released in Abuja describing the reports of price reduction as false and advised members of the public to ignore such news.
