Fuel subsidy benefits elite – NNPC

The Group Managing Director of the Nigerian National Petroleum Corporation, Mele Kyari, says Nigerians are expected to commend President Muhammadu Buhari for showing courage to remove fuel subsidy, adding that only the elite benefit from the age-long intervention.

Kyari, who stated this on Wednesday while appearing on Channels Television’s programme: “Politics Today”, stressed that the removal of petrol subsidy would benefit the poor more than the elite.

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He said the government could no longer afford the fuel subsidy because of the economic crunch caused by the coronavirus pandemic.

He said, “Every corruption that you are aware of in the downstream industry is one way or the other connected to fuel subsidy.”