Details of the meeting between President Bola Tinubu, governor of the Central Bank of Nigeria (CBN), Godwin Emefiele and the Group Chief Executive Officer of Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari has surfaced.
Recall that the President had met with Emefiele and Kyari yesterday on his first day in office in the Presidential Villa, Abuja.
Sources from the presidency told Vanguard that the discussion was centred around the removal of the fuel subsidy.
Tinubu, during his inaugural speech on May 29 announced that subsidy was gone, as it was not provided for in the 2023 budget.
However, sources from the presidency have stated that the removal of petrol subsidy will no longer be immediate.
The source stated that the reason for the meeting was to clarify issues surrounding the fuel subsidy.
He explained that there are plans to engage labour anytime from today to ensure the seamless removal of the subsidy.
A source said one of the fallouts of the meeting was for NNPCL to set up a template that would ensure that no toxic fuel was imported into the country and also create a benchmark for price.
The clarification came as scarcity of the product ground activities in major cities nationwide yesterday.
Yesterday, fuel queues emerged in many petrol stations as marketers who started hoarding fuel sold the product for as high as N600 per litre and transporters hiked fares.