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The Nigeria National Petroleum Corporation, NNPC, has explained why it pays ‘subsidy’ on petrol without appropriation from the National Assembly.
Managing Director of the Petroleum Products Marketing Company, PPMC, an NNPC arm, Umar Ajiya, said the NNPC Act is a law on its own which the corporation implements with or without the National Assembly.
Ajiya told Channels Television on Friday that the NNPC has the right to run its finances independently.
He admitted that the corporation has been paying N26 due to differentials in land landing cost and approved selling price but declined to tag it subsidy.
READ MORE HERE
Managing Director of the Petroleum Products Marketing Company, PPMC, an NNPC arm, Umar Ajiya, said the NNPC Act is a law on its own which the corporation implements with or without the National Assembly.
Ajiya told Channels Television on Friday that the NNPC has the right to run its finances independently.
He admitted that the corporation has been paying N26 due to differentials in land landing cost and approved selling price but declined to tag it subsidy.
READ MORE HERE
