Subsidy: Kyari In Closed-Door Meeting With Adamu

The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPC), Mele Kyari is currently meeting with the National Chairman of the All Progressives Congress (APC), Abdullahi Adamu, at the party’s secretariat in Abuja.

Kyari who arrived around 12:30 pm was welcomed by Adamu and the National Working Committee members.

The exact agenda for the meeting remains undisclosed, but insiders that spoke with Punch suggest it might be related to the contentious issue of petroleum subsidy removal.

This issue gained more attention on Monday when President Bola Tinubu stated that his administration could no longer justify maintaining subsidies on petroleum products.

Tinubu highlighted the Federal Government’s struggle to fund these subsidies during his inauguration ceremony.

The prospect of subsidy removal has already caused a sharp increase in transport fares—up by 100%—and fuel queues have returned to stations in major cities across the country.

In response, several fuel outlets have ceased operations, leading to scarcity, panic buying, and long lines at the few open stations.

However, Kyari sought to assuage public concern over the increasing prices of Premium Motor Spirit, commonly known as petrol, on Thursday.

The NNPC chief expressed his belief that competition in the oil sector could ultimately lead to a drop in petrol prices, counteracting the current upward trend that has caused widespread worry.