Nigeria Nigerians Furious Over NNPC's N7.8 Trillion Subsidy Debt Admission After Months of Denial

The Nigerian National Petroleum Company (NNPC) Limited confirmed that the federal government owes it N7.8 trillion in petrol subsidy debts, reversing its earlier denial of subsidy payments. The announcement has sparked outrage among Nigerians, who accuse the government of deception and demand accountability for the nation's economic management.

In a dramatic reversal, the Nigerian National Petroleum Company (NNPC) Limited has revealed that the federal government owes it a staggering N7.8 trillion in petrol subsidy debts, contradicting its earlier denial of any ongoing subsidy payments.

The announcement, made by NNPC’s Chief Financial Officer, Umar Ajiya, during a media briefing on the company’s 2023 audited financial statements, has sparked widespread outrage across the country.

Nigerians, already burdened by skyrocketing fuel prices, are reacting with anger and frustration on social media, accusing the government of deception. Many criticized the administration for reintroducing subsidies after claiming they had been abolished, leading to further economic hardship.

The revelation has fueled concerns about transparency and accountability within the current administration, with citizens demanding clarity on the nation's fiscal policies. The backlash highlights growing discontent with the government's handling of the economy, as the public calls for immediate action to address the crisis.