Nigerian National Petroleum Corporation Group Managing Director Mele Kyari resumes today amid a myriad of challenges facing the nation’s oil and gas industry, reports Group Business Editor, SIMEON EBULU.
The argument as to what becomes of Nigeria’s fuel subsidy has even gone beyond the shores of country. The global financial institution, the International Monetary Fund has an opinion on how it thinks the issue should be addressed. On Nigeria, she had this to say: “I would add as a footnote, as far as Nigeria is concerned that with the low revenue mobilisation that exists in the country in terms of tax to GDP, Nigeria is amongst the lowest. A real effort has to be done in order to maintain a good public finance situation for the country and direct investment towards health, education, and infrastructure.”
As she put it: “The advice from the IMF on fuel subsidy removal was a good one, which will be implemented in a manner that is both successful and sustainable. We are not in a situation where we will wake up one day and just remove subsidy. We have to educate the people, we have to show Nigerians what the replacement for those subsidies will be.
The petroleum industry, no doubt, is bedevilled with problems such as shortage of gas, low crude output, poor refineries’ output, inability of the Federal Government, to speed up the process of signing the Petroleum Governance Industry Bill into law, disruption in fuel supply and its attendant effects on the economy.
He advised Kyari to also focus on increasing the daily oil production to four million barrels per day. He said the two million barrels per day production was inadequate, saying development was not good enough for Nigeria aspires to be one of the largest producer of crude oil.
Try to be a responsible media that can defend itself for everything possible.
Abeg, he's not the one ooo...look for his real picture.
What sort of MISCHIEF is this? NNPCgroup boss MKKyari but you chose NGRPresident CoS picture?! Please be professional!
They should do what's best for our country Nigeria pls
First issue is for you to change the pic and put the correct Kyari
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