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The managing director of NNPCL, Mele Kyari has welcomed the presidential announcement that described petrol subsidy as over.

Recall that President Bola Tinubu had in his inaugural speech, announced that subsidy is gone forever.

However, responding to the reaction of petrol dealers in jerking up fuel prices across the federation to as high as between N300 to N500, Kyari assured that there is no need for panic buying or stocking of products as there is enough that will last for months.

Already, members of the Independent Petroleum Marketers Association of Nigeria (IMPAN) had rejected the presidential decision and shutdown their sales outlets while those that are still open for business have jerked up pump prices without recourse to PPPRA.

By Business Hilights

Business Hilights is an online news channel conceptualized and structured to report and track on a daily basis; latest developments in critical business sectors to serve as a one stop news gateway for governments, foreign and indigenous investors.

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