x

Subsidy Responsible For Oil Theft — Mele Kyari

The Group Managing Director of NNPC Limited, Mele Kyari has blamed petroleum subsidy for the high rate of smuggling of the products across the border.

Mr Kyari, while speaking at a summit organized by the House of Representatives Committee on Anti-Corruption, said as long as there is subsidy, smuggling and round-tripping will persist.

He stated that NNPC Limited cannot be held accountable for the matter.

“As long as arbitrage is there, you will continue to have these issues and you cannot hold NNPC accountable for it because it is a value chain that involves everything and everybody,” he said.

He also revealed that there are threats to his life by those who are opposed to changes caused by the implementation of the Petroleum Industry Act.

“There is threat to life, I can say this, I have several death threats but we are not bothered about this, we believe that no one dies unless it is his time.

But this is the cost of change, when people move away from what they are used to something that is new that will take away value and benefit from them, they will react,” he said.

Hot this week

INSPIRATION: Do Not Let Life Define You

With Mary EwaThough bashed, pained, rejected, and even abandoned,...

ATA 1–1 MIL: Match Review and Updated Serie A...

Kogi First Lady Advocates Women Empowerment for Economic Independence

By Noah Ocheni, LokojaThe wife of the Kogi State...

Arsenal’s Youngsters Shine as Gunners Beat Brighton to Reach EFL Cup Quarter-Finals

Arsenal’s new generation delivered a dazzling display on Wednesday...

Boost for Nigeria as Chidozie Awaziem Returns Ahead of Crucial Gabon Clash

The Super Eagles have received a major boost ahead...

BAVCCA urges Nigerians to defend Dangote Refinery

President of the Bloggers and Vloggers, Content Creators Association...

INSPIRATION: The Family: The Forgotten Powerhouse of Civilization

By Mary EwaFamily — the smallest yet most powerful...

INSPIRATION: Seeing Myself in the Light of Now

By Mary EwaTechnology is the wealth of the twenty-first...

PenCom mulls reintroduction of gratuity as pension assets hit N25trillion

By Ogenyi Ogenyi, UyoThe National Pension Commission, PenCom, has...

Security Operatives Question NDDC MD Over Alleged Coup Financing

By our correspondentThere is palpable tension at the headquarters...

Related Articles

Popular Categories

spot_imgspot_img