The Nigeria National Petroleum Commission Limited (NNPCL), has revealed that the Federal Government is owing them a whooping sum of N2.8 trillion (Two trillion, eight hundred billion naira) on their supply of fuel from 2022 to date.

NNPC disclosed this in their official page while clarifying issues surrounding the recent fuel subsidy removal in the country.

According to them, the Federal Government of Nigeria have not provided any money for subsidy and that NNPCL has been financing subsidy from their purse since 2022.

The petroleum company also said delaying subsidy removal till the end of June would plunge the country into serious nationwide scarcity.

While responding to the sudden increase of petroleum prices shortly after President Tinubu’s declaration, NNPC said fuel stations will not be able to restock if they continue selling at the old price.


It added that market forces now determines the price of fuel as NNPC is no longer a sole distributor of the product.

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