The General Managing Director (GMD) of the Nigerian National Petroleum Corporation (NNPC), has disclosed that the federal government cannot continue to bear the subsidy burden.
Speaking with journalists at the Presidential Villa, Abuja, Kyari said the NNPC can no longer bear the burden.
According to him, “The price could have been anywhere between N211 and N234 to the litre. The meaning of this is that consumers are not paying for the full value of the PMS that we are consuming and therefore someone is paying that cost.
“As we speak today, the difference is being carried in the books of NNPC and I can confirm to you that NNPC may no longer be in a position to carry that burden.”