The Group Managing Director of NNPC Limited, Mele Kyari has
blamed petroleum subsidy for the high rate of smuggling of the products across
the border.
Mr Kyari, while speaking at a summit organized by the House
of Representatives Committee on Anti-Corruption, said as long as there is
subsidy, smuggling and round-tripping will persist.
He stated that NNPC Limited cannot be held accountable for
the matter.
“As long as arbitrage is there, you will continue to have
these issues and you cannot hold NNPC accountable for it because it is a value
chain that involves everything and everybody,” he said.
He also revealed that there are threats to his life by those
who are opposed to changes caused by the implementation of the Petroleum
Industry Act.
“There is threat to life, I can say this, I have several
death threats but we are not bothered about this, we believe that no one dies
unless it is his time.
But this is the cost of change, when people move away from
what they are used to something that is new that will take away value and
benefit from them, they will react,” he said.
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