The pump price of petrol is expected to go up again, as the Nigerian National Petroleum Corporation says it can no longer carry the load of subsidy.
The NNPC claims that it currently spends up to one hundred and twenty billion naira on petrol subsidy every month in order to keep the cost of petrol at their current price.
NNPC’s Group Managing Director, Mele Kyari, made this known during the weekly presidential ministerial media briefing in Abuja.
Speaking on the side of Minister of State for Petroleum Resources, Timipre Sylva, Kyari said petrol was currently being sold below the cost of importation.
Meanwhile; some residents of Lagos State have condemned any additional increase in the pump price of petrol.
Those who spoke with Chukwuemeka Obioma of Lasgidi FM, called on the government to drop the idea.