Group Managing Director of the NNPC, Dr. Maikanti Baru
Everest Amaefule, Abuja
Despite
increased landing cost of petroleum products, Premium Motor Spirit will
continue to sell at N145 per litre, the Nigerian National Petroleum
Corporation has said.
In a telephone interview with our
correspondent in Abuja on Wednesday, NNPC Group General Manager, Public
Affairs, Mr Ndu Ughamadu, said that the corporation would continue to
bear the cost of under-recovery of petrol through other sources.
Ughamadu
said, “The Federal Government has made it clear; petrol will continue
to sell at N145 per litre. NNPC is not operating subsidy. What we have
done is under-recovery of which we make up from other sources.
“Yes,
the under-recovery will continue. The corporation plays many roles in
the country. We are an importer of the last resort where others refuse
to import.
“We equally operate in a social regime to make sure
that the system gets wet with products because if the corporation is not
doing that as part of its responsibilities, you can imagine what the
system will look like.”
Meanwhile, the NNPC on Wednesday denied that it had spent $22bn on the Brass LNG project.
In a statement made available to our correspondent in Abuja, Ughamadu said that the corporation had spent $1.2bn on the project.
Ughamadu
said that the corporation made the clarification at the House of
Representatives Ad-hoc Committee investigating the expenditure.
The
statement quoted the General Manager, New LNG Venture of the NNPC,
Ahmed Dikko, as telling the committee that the $1.2bn was about the
total money spent so far by the various shareholders to get the project
to its current stage.
Dikko said, “This sum included the cost of
acquiring project land, which covers approximately 606 hectares, cost of
early works contract, Front End Engineering Design, Pre-FEED Concept
Evaluation Study, Project Environmental Impact Assessment comprising
both onshore and offshore studies, dredging, EIA activities and ambient
noise survey, displacement and settlement action plan, cultural site
heritage study, staff and administration project cost from inception,
and sustainable development cost, among others.”
Source:- Punchng
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