Politics
NNPC Not FG, Bears Cost Of Subsidy — Osinbajo
Vice-President Yemi Osinbajo says the Nigerian National Petroleum Corporation (NNPC) bears the cost of fuel subsidy and not the federal government.
NAN reports that the vice-president clarified this on Monday while answering questions from journalists after visiting the Oando and Total depot in Apapa, Lagos.
“NNPC is trading in fuel; the federal government is not, at the moment, paying for any subsidy. NNPC is trading,” he said.
“If you are buying and selling fuel, you would have to be able to pay for it. So, it’s not a question of government provision for subsidy, the federal government, at the moment, isn’t paying any subsidy.
“And don’t forget that the way that the NNPC trades is that, in many cases, NNPC is actually giving fuel; there is 445,000 barrels of fuel.
“So really what you are seeing, in many cases, is more or less an exchange for PMS. So at the moment NNPC is paying the cost.”
While speaking at a press conference on Sunday, Maikanti Baru, NNPC group managing director, had said that the landing cost of petrol is now N171 as against the official retail price of N145.
TheCable had reported that this would mean that the federal government would have to pay N40.70 as subsidy on every litre of petrol imported to retain the retail price of N145.
Gingo Lanni
December 28, 2017 at 2:09 pm
buhari minister of petroleum is still to blame
Solo KC
December 28, 2017 at 1:42 pm
this one na mumu
Chukwuemeka Samuel
December 28, 2017 at 12:45 pm
Now who owns NNPC
Chukwuemeka Samuel
December 28, 2017 at 12:39 pm
Oga osibanjo stop all these false defence of Buhari’s administration and say the truth, remember you a pastor of reputable church and your costly soul is more important than the defence
Austine E Atah
December 28, 2017 at 4:28 am
Who is NNPC and who is FG. You are very sick
Uche Agbasi
December 27, 2017 at 9:51 pm
Fuel subsidy is all about the Republic of NNPC.
Michael Omocho Izuogu
December 27, 2017 at 8:21 pm
Ok
Sant Emmy
December 27, 2017 at 6:15 pm
This man don join his brother lai Mohammed.. chai .. !!!
Onyemaechi Tony
December 27, 2017 at 3:31 pm
U R a disgrace to mankind.
Just imagine a pastor…& Lies
Medugu John Sunday
December 27, 2017 at 2:22 pm
WHATEVER IS BAD IS BAD.THE MONEY BELONGS TO NIGERIA
Eric Antia
December 27, 2017 at 2:21 pm
NNPC ke!? when there is Johnathan to blame?
Collins Amele
December 27, 2017 at 2:14 pm
Pastor osibanjo stop lying….who is the petroleum minister
Juliet Johnson
December 27, 2017 at 1:36 pm
Please, is there still subsidy???? Just asking because I thought there were no more fuel subsidy since Saint apc took over.
Bright Chimezie
December 27, 2017 at 1:01 pm
HAHAHAHA… Export raw materials, import finished products. Raw materials come from South South region, finished products from south west region… Oloshi country, highly retrogressive joor
Shameless rulers that we call leaders. I still can’t understand why they can’t make our refineries work. If they aren’t stupid with the exportation of crude and importation of refined products, then they are foolish. The thunder that will fire all those involved is still charging. And they’re happy announcing the arrival of the products. Yeye dey smell.
I thought they earlier informed us dat they were loading petroleum products in all d depots. Dis people r jokers. Revolution is d answer, if not we would continue 2 suffer in d hands of dis mindless crooks. crude oil is found mainly in sedimentary environment and by nature such environment is usually not too far away from natural source of water hence most nations that crude oil occur naturally usually build and run a functional seaport and refinery closed to the location of the oil wells. It is both economical and save to do so.
However in Nigeria, the reverse is the case; the natural water closed to the oil well is polluted and militarized, the seaports shutdown, the communities around the oil Wells have oil pipes running through them even into cities and across states nationwide, … destroying the natural environment more and more… and the inhabitants of such communities treated like lesser humans…
Sincerely speaking, Nigeria is fighting against nature, science, humanity and common sense. It is a time bomb about exploding… Am just shedding tears right now!!! This is not about PDP or APC. That since 1950s that oil was discovered in oloibiri, in present day Bayelsa State, Nigeria as a country is still importing petroleum products!!! And the government is even proud to publicize things like this. Can anyone imagine Saudi Arabia, Iran, Russia etc importing fuel from another country. God where have we gone wrong as a country? Give us Biafra pls God Almighty help us we have suffered enough na pls hear our cry O Lord Biafra’s are crying for help
Izuchi Ntiwunka
December 27, 2017 at 11:31 am
Mugu
Ifeanyichukwu Madunagu Frank
December 27, 2017 at 11:27 am
Buhari and his Fulani headsmen dictatorship government don’t want to be held accountable as you can see here
Osei Adjei
December 27, 2017 at 10:43 am
Hahaha Nigeria never see anything yet this APC government are more than confused
Ernest Jombo
December 27, 2017 at 11:09 am
They have nothing to offer to Nigerians
Adedapo Adebisi Adejuwon Barcelona
December 27, 2017 at 10:22 am
Flash Back: Loretta Onochie, Special Adviser To President Muhammadu Buhari, Protesting Against #140 Per Litre Price Of Fuel Under Goodluck Jonathan, Said It Was 419, But Today A Litre Of Fuel Is Above #250.
Where are you today idiot?
Ernest Jombo
December 27, 2017 at 11:08 am
God is punishing them while they are there
Eze Okani
December 27, 2017 at 10:21 am
Na waaaaoooo!!!These people sef, the talk this today,tommorrow,we hear different story,eear kwa nwa pastor..
Jerom Chisom Paul
December 27, 2017 at 9:51 am
NNPC is now an independent institution.
Cheery Emma Aligwe
December 27, 2017 at 9:13 am
One kwoner dance!
Engr Abdulkadir Lawan
December 27, 2017 at 8:43 am
Oriental times miss quoted him.
John Oge
December 27, 2017 at 12:43 pm
OK plz oga tell us exactly what he said
Chukwuemeka Odo
December 27, 2017 at 8:41 am
Afonja cameleons!
Ezekwe Stephen
December 27, 2017 at 8:35 am
Keep on lying and keep on deceiving yourself
Frank Zoe
December 27, 2017 at 8:33 am
It’s well. I’m short of words
Chukwuma Evergreen Judenty
December 27, 2017 at 8:00 am
So NNPC is now a private company ?? Ok
Ogbuji Okwudiridavid
December 27, 2017 at 7:39 am
You call yourself a pastor.a professor who did not known his left and right
Icee Age
December 27, 2017 at 7:07 am
NW THT THERE IS PROBLEMS NNPC IS NT GOVTMENT BT IF IS TO SHARE MONEY OF NNPC GOVTMENT WILL COME OUT WITH THEIR POT BELLIES.THIS MAN YOU ARE A COMPLETE FOOL AND A COMPOUND IDIOT. FOOLISH CRIMINAL PASTOR.UGLY DIRTY THING.YR BRAIN IS REALLY SHORTER THAN YOU.DWARF
Chichi Akosa
December 27, 2017 at 6:54 am
Tell me who regulates NNPC ?
Dr. Peter Ejirika, CPA
January 9, 2018 at 9:38 am
Are you related to one Major Akosa of the Biafran Air Force or Loretta Akosa of Houston, Texas. I mean no harm just happen to recognize the last name but a Biafran Air Force Officer in Body and in Soul. God Bless
Emmanuel Fruitful
December 27, 2017 at 6:54 am
I thought your just short not knowing that your brain is shorter. Idiot.
Prince Ike
December 27, 2017 at 6:53 am
Who Is The Petrolum Minister??
Fola Manute
December 27, 2017 at 6:46 am
Abodunrin Daramola
December 27, 2017 at 7:26 am
Chaiiii Chaiiii !!!
John Oge
December 27, 2017 at 12:42 pm
Hahaha bros na wao
Dan Awgu
December 27, 2017 at 6:42 am
Stop deceiving ur self dis Man….
Chidex Hillson
December 27, 2017 at 6:40 am
Stop talking like a clown. Pls who owned NNPC and who does NNPC account for? Lie lie pastor. Posterity must surely judge u
Golden Heart
December 27, 2017 at 6:40 am
Meaning? NNPC is now a Different body run by who?