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Petrol to sell at N340 per litre in 2022 – NNPC

By Dennis Mernyi, Abuja
Finally, the government has hinted on the increase in the pump price of petrol from N163 to between N320 to N340 Per litre.

Nigerian National Petroleum Company (NNPC) group managing director, Malam Mele Kyari, dropped the hint on Tuesday in Abuja.

Kyari who spoke during the presentation of the World Bank Nigeria Development Update, November 2021 edition titled ‘Time for Business Unusual’.

Petrol marketers tank farm owners and deport managers over increase of products lifting in the past weeks.

The situation has caused product scarcity and unavailability in most parts of the country.

The NNPC chief executive also stated that government will surely achieve fuel subsidy removal definitely in in the first quarter of 2022.

He said that the law provides that by the end of February 2022, the nation should be out of the subsidy regime.

“There will be no provision for it legally in our system, but I am also sure you will appreciate that government has a bigger social responsibility to cater for the ordinary and therefore engage in a process that will ensure that we exit in the most subtle and easy manner,” he said.

On the hike in prices of cooking gas, he said that it was a demand and supply issue as there was a global crunch on supply of gas and many countries were now threatened by lack of supply in December.

Petrol to sell at N340 per litre in 2022 – NNPC

He added that the product was not under any subsidy regime and therefore irrespective of where it was produced, would follow the global trend.

Kyari, however, assured that the company was working on increasing local production to meet the needs of consumers.

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