Why NNPC Sells Fuel Below Landing Cost – It Is Not Subsidy
In a recent announcement, the Nigerian National Petroleum Company Limited (NNPC Ltd.) clarified that it has not been paying fuel subsidies for the past nine months, despite selling fuel at prices lower than the landing cost. According to Umar Ajiya, NNPC’s Chief Financial Officer, the company is not engaged in subsidizing fuel. Instead, NNPC is […]