The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mele Kyari, on Wednesday, June 9, during Senate plenary disclosed how the #EndSARS protests in 2020 prevented the total removal of fuel price subsidy.
Kyari made this disclosure during an inquiry facing the Senate Committee on Anti-corruption and Financial Crimes Commission.
In response to a query about the revenue accrued from the sale of oil exports and the issue of corruption in NNPC, “In the 2021 Appropriation Act, there is no condition for subsidy payment; in 2020, the COVID-19 pandemic presented a huge challenge in the oil sector due to the crash of prices across the world. This elicited low prices in order to redress the issue of supply and demand.
“In late 2020, the prices rebounded to pre-COVID prices; we recalled the #EndSARS protests which lead to a massive fluctuation due to a shutdown in the economy.”
The NNPC GMD further stated that the only solution to ensure a lasting solution is full deregulation of the oil sector while entrenching a framework to ensure Nigerians are not exploited.
“NNPC discounts the prices after buying to the oil marketers and there is a need for engagements among stakeholders in order to ensure stability.”
Meanwhile, Gov. Seyi Makinde of Oyo State on Tuesday, June 8, promised to empower local security guards; and members of vigilante groups to end insecurity in Ibarapa land.
Makinde’s visit followed the last Saturday night attack on the Igangan community; in the Ibarapa axis of Oyo State by yet to be identified gunmen.
The governor in a statement on Tuesday evening by Mr Taiwo Adisa, his Chief Press Secretary, said he would do everything within his powers to safeguard the lives of residents of the state.
Makinde, however, vowed that his government would do everything possible; to prevent a recurrence of the violent attacks on Igangan and other communities in the state.
The governor, during his visit to the families of the victims of the attack; said that the state government had been able to identify areas where there were lapses.
He then called on the people to give his government the opportunity to address the situation; and put in place the right security architecture that would enable them to return to their normal lives without fear.
“I urge you to give me that chance to make the issue of insecurity here become a thing of the past. Don’t take laws into your hands.
“Please, give me some time, everything will be resolved,” he pleaded.