The Nigerian National Petroleum Company Limited has denied that it had a dispute with independent petrol marketers over an alleged subsidy on Premium Motor Spirit (PMS).
There were reports that fuel marketers under the aegis of the Independent Petroleum Marketers Association of Nigeria clashed with the NNPC over whether the government was still paying subsidy.
However, in a statement on Wednesday, NNPC spokesman, Olufemi Soneye, said subsidy has been entirely removed on petrol.
“NNPC Ltd emphasizes it has not clashed with any party,” Soneye said, adding that the publication’s headline was unfortunate.
In his inaugural speech on May 29, 2023, President Bola Tinubu declared that the subsidy era is gone.
He said the 2023 budget made no provision for fuel subsidy, and subsidy payment was no longer justifiable.
The declaration saw petrol per litre jumping from around N184 to over N600 in several parts of the country.
The removal of fuel subsidy also came with attendant economic crises with food inflation jumping to an all-time high.
