The Nigerian National Petroleum Company Limited (NNPCL) has issued a warning to Nigerians against engaging in panic buying of fuel following President Bola Ahmed Tinubu’s announcement regarding the removal of subsidies.
During his inaugural address on May 29, 2023, President Tinubu declared an end to the era of subsidy payments, citing the absence of provisions for fuel subsidies in the 2023 budget and deeming further payments unjustifiable.
Following the president’s statement, reports emerged of some filling stations in Lagos and Abuja closing their operations, while others experienced long queues of vehicles and people eagerly waiting to fill their tanks and containers.
READ ALSO: President Buhari launches new NNPC brand
In response to the situation, the NNPCL held an emergency press conference at the NNPC Towers in Abuja, urging Nigerians to refrain from panic buying and assuring them that this decision is in the best interest of the company.
Mele Kyari, the Group Chief Executive Officer (GCEO) of NNPCL, highlighted that the company has been allocating a significant portion of its profits towards subsidizing the product.
#NNPCLWarnsAgainstPanicBuying #FuelSubsidyRemoval #PresidentTinubuAddress #NoMoreFuelSubsidies #LagosFuelShortage #AbujaFuelQueue #NNPCLEmergencyPressConference #MeleKyariSpeaksOut #FuelPanicBuyNotRecommended #NNPCLInBestInterest
