The Nigerian National Petroleum Company Limited and fuel marketers under the aegis of the Independent Petroleum Marketers Association of Nigeria, reportedly clashed again over the removal of subsidy on petrol.
The Chief Executive Officer, Financial Derivatives Company, Bismarck Rewane, had during a live television programme on ChannelsTV on Sunday, explained that fuel subsidy was not removed but reduced.
Similarly, oil marketers told PUNCH on Tuesday that subsidy on petrol was increasing considering the crash of the naira against the United States dollar and the cost of crude oil, stressing that PMS should sell for N1,200/litre in a free market.
However, the Chief Corporate Communications Officer of the NNPCL, Olufemi Soneye, dismissed the positions of economists and marketers as assumptions, maintaining that the Federal Government had indeed discontinued petrol subsidy.
