Returning to fuel subsidy will kill NNPC, Presidency warns
The Presidency has warned that returning to the petrol subsidy regime could kill the Nigerian National Petroleum Company Limited, says Bayo Onanuga. Read More: https://punchng.com/returning-to-fuel-subsidy-will-kill-nnpc-presidency-warns/
The Nigerian Presidency has cautioned against reviving the petrol subsidy regime, warning that it could cripple the Nigerian National Petroleum Company Limited (NNPC). Special Adviser to President Bola Tinubu on Information and Strategy, Bayo Onanuga, made the cautionary statement on X, detailing NNPC's financial performance in 2025.
NNPC's earnings, per share, and operating cash flow all increased significantly, while crude oil and condensate production reached a five-year high. Onanuga cautioned that Atiku Abubakar's planned subsidy program would "kill this company, which could be our own Aramco," urging Nigeria to move forward.
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