Malam Mele Kyari, the Group Managing Director and Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPC), says Nigeria should be out of subsidy regime by the end of February 2022.
Vanguard reported that the NNPC boss this at the presentation of the World Bank Nigeria Development Update, November 2021 edition titled “Time for Business Unusual”.
Kyari added that by February 2022, there will be no provision for subsidy legally, PM News also reported.
He, however, said the Nigerian government has a bigger social responsibility to cater for the ordinary and will ensure that the subsidy regime is exited in the most subtle and easy manner.
According to him, fuel subsidy removal would definitely be achieved in 2022 as it was now fully backed by law.
The NNPC chief added that the price of the product may range between N320 and N340 per litre after the removal of subsidy.