{"id":105139,"date":"2023-05-31T02:19:49","date_gmt":"2023-05-31T01:19:49","guid":{"rendered":"https:\/\/pointblanknews.com\/pbn\/?p=105139"},"modified":"2023-05-31T02:40:39","modified_gmt":"2023-05-31T01:40:39","slug":"fg-owes-nnpcl-n2-8t-in-subsidy-payment-kyari","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/exclusive\/fg-owes-nnpcl-n2-8t-in-subsidy-payment-kyari\/","title":{"rendered":"FG owes NNPCL N2.8t in subsidy payment \u2014 Kyari"},"content":{"rendered":"<div>\n<p>The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, Mele Kyari, has said the Federal Government owes the company the sum of N2.8 trillion in subsidy payment deficit.<\/p>\n<p>He stated this while speaking to journalists at the Presidential Villa, Abuja, after a meeting with President Bola Tinubu.<\/p>\n<p>Kyari affirmed the disclosure by the President in his inauguration speech on the end of the subsidy regime, saying the policy is welcome as payment of subsidy is no longer sustainable.<\/p>\n<p>Kyari, who was joined at the briefing by the Authority Chief Executive Officer of the Nigerian Mainstream and Downstream Petroleum Regulatory Authority, Farouk Ahmed, also lamented that the heavy subsidy burden has made it impossible for the NNPCL to have funds to channel into its core businesses.<\/p>\n<\/div>\n<div>He observed the petrol queues that started resurfacing across the country since Monday are understandable as marketers will like to understand the meaning of the President\u2019s pronouncement that \u201csubsidy is gone\u201d.He added that the uncertainty on the remark also caused consumers to rush for the product, a situation which has resulted in the queues seen at fuel stations, assuring that government will initiate measures to cushion the effects of the removal of subsidy.<\/p>\n<p>Kyari said: \u201cSince the provision of the N6 trillion in 2022, and N3.7 trillion in 2023, we have not have not received any payment whatsoever from the Federation.<\/p>\n<p>\u201cThat means they (Federal Government) are unable to pay and we\u2019ve continued to support this subsidy from the cash flow of the NNPC.<\/p>\n<p>\u201cThat is when we net off our fiscal obligations of taxes and royalty, there\u2019s still a balance that we\u2019re funding from our cash flow and that has become very difficult and affecting our other operations.<\/p>\n<p>\u201cWe\u2019re not able to keep some of this cash for investment in our core businesses and the end result is that it can be a huge challenge for the company we have highlighted this severally to the government that they must compensate and NNPC they must pay back the NNPC for the money that we have spent on the subsidy.<\/p>\n<p>\u201cSo today the country doesn\u2019t have the money to pay for subsidies.<\/p>\n<p>\u201cThere\u2019s an incremental value that will come from it.<\/p>\n<p>\u201cBut it is not an issue of whether you can do it or not because today we can\u2019t afford it and they are not able to pay our bill.<\/p>\n<p>\u201cThat comes to how much the federation owes NNPC now.<\/p>\n<p>\u201cToday, we are waiting for them to settle up to N2.8 trillion of NNPC\u2019s cashflow from the subsidy regime and we can\u2019t continue to build this.\u201d<\/p>\n<\/div>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content --><!-- AddThis Related Posts generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, Mele Kyari, has said the Federal Government owes the company the sum of N2.8 trillion in subsidy payment&hellip;<!-- AddThis Advanced Settings generic via filter on wp_trim_excerpt --><!-- AddThis Share Buttons generic via filter on wp_trim_excerpt --><!-- AddThis Related Posts generic via filter on wp_trim_excerpt --><\/p>\n","protected":false},"author":1,"featured_media":105140,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[17],"tags":[],"class_list":["post-105139","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-exclusive"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>FG owes NNPCL N2.8t in subsidy payment \u2014 Kyari - Pointblank News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pointblanknews.com\/pbn\/exclusive\/fg-owes-nnpcl-n2-8t-in-subsidy-payment-kyari\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FG owes NNPCL N2.8t in subsidy payment \u2014 Kyari - Pointblank News\" \/>\n<meta property=\"og:description\" content=\"The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, Mele Kyari, has said the Federal Government owes the company the sum of N2.8 trillion in subsidy payment&hellip;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/pointblanknews.com\/pbn\/exclusive\/fg-owes-nnpcl-n2-8t-in-subsidy-payment-kyari\/\" \/>\n<meta property=\"og:site_name\" content=\"Pointblank News\" \/>\n<meta property=\"article:published_time\" content=\"2023-05-31T01:19:49+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-05-31T01:40:39+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/pointblanknews.com\/pbn\/wp-content\/uploads\/2023\/05\/Mele-Kyari.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"683\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Our Reporter\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Our Reporter\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/pointblanknews.com\/pbn\/exclusive\/fg-owes-nnpcl-n2-8t-in-subsidy-payment-kyari\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/pointblanknews.com\/pbn\/exclusive\/fg-owes-nnpcl-n2-8t-in-subsidy-payment-kyari\/\"},\"author\":{\"name\":\"Our Reporter\",\"@id\":\"https:\/\/pointblanknews.com\/pbn\/#\/schema\/person\/ba61acbe7e8967bcf3f3ba603d9db23c\"},\"headline\":\"FG owes NNPCL N2.8t in subsidy payment \u2014 Kyari\",\"datePublished\":\"2023-05-31T01:19:49+00:00\",\"dateModified\":\"2023-05-31T01:40:39+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/pointblanknews.com\/pbn\/exclusive\/fg-owes-nnpcl-n2-8t-in-subsidy-payment-kyari\/\"},\"wordCount\":451,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/pointblanknews.com\/pbn\/exclusive\/fg-owes-nnpcl-n2-8t-in-subsidy-payment-kyari\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/pointblanknews.com\/pbn\/wp-content\/uploads\/2023\/05\/Mele-Kyari.jpeg\",\"articleSection\":[\"Exclusive\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/pointblanknews.com\/pbn\/exclusive\/fg-owes-nnpcl-n2-8t-in-subsidy-payment-kyari\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/pointblanknews.com\/pbn\/exclusive\/fg-owes-nnpcl-n2-8t-in-subsidy-payment-kyari\/\",\"url\":\"https:\/\/pointblanknews.com\/pbn\/exclusive\/fg-owes-nnpcl-n2-8t-in-subsidy-payment-kyari\/\",\"name\":\"FG owes NNPCL N2.8t in subsidy payment \u2014 Kyari - Pointblank News\",\"isPartOf\":{\"@id\":\"https:\/\/pointblanknews.com\/pbn\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/pointblanknews.com\/pbn\/exclusive\/fg-owes-nnpcl-n2-8t-in-subsidy-payment-kyari\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/pointblanknews.com\/pbn\/exclusive\/fg-owes-nnpcl-n2-8t-in-subsidy-payment-kyari\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/pointblanknews.com\/pbn\/wp-content\/uploads\/2023\/05\/Mele-Kyari.jpeg\",\"datePublished\":\"2023-05-31T01:19:49+00:00\",\"dateModified\":\"2023-05-31T01:40:39+00:00\",\"author\":{\"@id\":\"https:\/\/pointblanknews.com\/pbn\/#\/schema\/person\/ba61acbe7e8967bcf3f3ba603d9db23c\"},\"breadcrumb\":{\"@id\":\"https:\/\/pointblanknews.com\/pbn\/exclusive\/fg-owes-nnpcl-n2-8t-in-subsidy-payment-kyari\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/pointblanknews.com\/pbn\/exclusive\/fg-owes-nnpcl-n2-8t-in-subsidy-payment-kyari\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/pointblanknews.com\/pbn\/exclusive\/fg-owes-nnpcl-n2-8t-in-subsidy-payment-kyari\/#primaryimage\",\"url\":\"https:\/\/pointblanknews.com\/pbn\/wp-content\/uploads\/2023\/05\/Mele-Kyari.jpeg\",\"contentUrl\":\"https:\/\/pointblanknews.com\/pbn\/wp-content\/uploads\/2023\/05\/Mele-Kyari.jpeg\",\"width\":1024,\"height\":683},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/pointblanknews.com\/pbn\/exclusive\/fg-owes-nnpcl-n2-8t-in-subsidy-payment-kyari\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/pointblanknews.com\/pbn\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"FG owes NNPCL N2.8t in subsidy payment \u2014 Kyari\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/pointblanknews.com\/pbn\/#website\",\"url\":\"https:\/\/pointblanknews.com\/pbn\/\",\"name\":\"Pointblank News\",\"description\":\"Just the news\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/pointblanknews.com\/pbn\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/pointblanknews.com\/pbn\/#\/schema\/person\/ba61acbe7e8967bcf3f3ba603d9db23c\",\"name\":\"Our Reporter\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/pointblanknews.com\/pbn\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/83b3820ef93d502ae3a617b2c881ca42?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/83b3820ef93d502ae3a617b2c881ca42?s=96&d=mm&r=g\",\"caption\":\"Our Reporter\"},\"url\":\"https:\/\/pointblanknews.com\/pbn\/author\/admin\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"FG owes NNPCL N2.8t in subsidy payment \u2014 Kyari - Pointblank News","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/pointblanknews.com\/pbn\/exclusive\/fg-owes-nnpcl-n2-8t-in-subsidy-payment-kyari\/","og_locale":"en_US","og_type":"article","og_title":"FG owes NNPCL N2.8t in subsidy payment \u2014 Kyari - Pointblank News","og_description":"The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, Mele Kyari, has said the Federal Government owes the company the sum of N2.8 trillion in subsidy payment&hellip;","og_url":"https:\/\/pointblanknews.com\/pbn\/exclusive\/fg-owes-nnpcl-n2-8t-in-subsidy-payment-kyari\/","og_site_name":"Pointblank News","article_published_time":"2023-05-31T01:19:49+00:00","article_modified_time":"2023-05-31T01:40:39+00:00","og_image":[{"width":1024,"height":683,"url":"https:\/\/pointblanknews.com\/pbn\/wp-content\/uploads\/2023\/05\/Mele-Kyari.jpeg","type":"image\/jpeg"}],"author":"Our Reporter","twitter_misc":{"Written by":"Our Reporter","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/pointblanknews.com\/pbn\/exclusive\/fg-owes-nnpcl-n2-8t-in-subsidy-payment-kyari\/#article","isPartOf":{"@id":"https:\/\/pointblanknews.com\/pbn\/exclusive\/fg-owes-nnpcl-n2-8t-in-subsidy-payment-kyari\/"},"author":{"name":"Our Reporter","@id":"https:\/\/pointblanknews.com\/pbn\/#\/schema\/person\/ba61acbe7e8967bcf3f3ba603d9db23c"},"headline":"FG owes NNPCL N2.8t in subsidy payment \u2014 Kyari","datePublished":"2023-05-31T01:19:49+00:00","dateModified":"2023-05-31T01:40:39+00:00","mainEntityOfPage":{"@id":"https:\/\/pointblanknews.com\/pbn\/exclusive\/fg-owes-nnpcl-n2-8t-in-subsidy-payment-kyari\/"},"wordCount":451,"commentCount":0,"image":{"@id":"https:\/\/pointblanknews.com\/pbn\/exclusive\/fg-owes-nnpcl-n2-8t-in-subsidy-payment-kyari\/#primaryimage"},"thumbnailUrl":"https:\/\/pointblanknews.com\/pbn\/wp-content\/uploads\/2023\/05\/Mele-Kyari.jpeg","articleSection":["Exclusive"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/pointblanknews.com\/pbn\/exclusive\/fg-owes-nnpcl-n2-8t-in-subsidy-payment-kyari\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/pointblanknews.com\/pbn\/exclusive\/fg-owes-nnpcl-n2-8t-in-subsidy-payment-kyari\/","url":"https:\/\/pointblanknews.com\/pbn\/exclusive\/fg-owes-nnpcl-n2-8t-in-subsidy-payment-kyari\/","name":"FG owes NNPCL N2.8t in subsidy payment \u2014 Kyari - Pointblank News","isPartOf":{"@id":"https:\/\/pointblanknews.com\/pbn\/#website"},"primaryImageOfPage":{"@id":"https:\/\/pointblanknews.com\/pbn\/exclusive\/fg-owes-nnpcl-n2-8t-in-subsidy-payment-kyari\/#primaryimage"},"image":{"@id":"https:\/\/pointblanknews.com\/pbn\/exclusive\/fg-owes-nnpcl-n2-8t-in-subsidy-payment-kyari\/#primaryimage"},"thumbnailUrl":"https:\/\/pointblanknews.com\/pbn\/wp-content\/uploads\/2023\/05\/Mele-Kyari.jpeg","datePublished":"2023-05-31T01:19:49+00:00","dateModified":"2023-05-31T01:40:39+00:00","author":{"@id":"https:\/\/pointblanknews.com\/pbn\/#\/schema\/person\/ba61acbe7e8967bcf3f3ba603d9db23c"},"breadcrumb":{"@id":"https:\/\/pointblanknews.com\/pbn\/exclusive\/fg-owes-nnpcl-n2-8t-in-subsidy-payment-kyari\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/pointblanknews.com\/pbn\/exclusive\/fg-owes-nnpcl-n2-8t-in-subsidy-payment-kyari\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/pointblanknews.com\/pbn\/exclusive\/fg-owes-nnpcl-n2-8t-in-subsidy-payment-kyari\/#primaryimage","url":"https:\/\/pointblanknews.com\/pbn\/wp-content\/uploads\/2023\/05\/Mele-Kyari.jpeg","contentUrl":"https:\/\/pointblanknews.com\/pbn\/wp-content\/uploads\/2023\/05\/Mele-Kyari.jpeg","width":1024,"height":683},{"@type":"BreadcrumbList","@id":"https:\/\/pointblanknews.com\/pbn\/exclusive\/fg-owes-nnpcl-n2-8t-in-subsidy-payment-kyari\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/pointblanknews.com\/pbn\/"},{"@type":"ListItem","position":2,"name":"FG owes NNPCL N2.8t in subsidy payment \u2014 Kyari"}]},{"@type":"WebSite","@id":"https:\/\/pointblanknews.com\/pbn\/#website","url":"https:\/\/pointblanknews.com\/pbn\/","name":"Pointblank News","description":"Just the news","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/pointblanknews.com\/pbn\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/pointblanknews.com\/pbn\/#\/schema\/person\/ba61acbe7e8967bcf3f3ba603d9db23c","name":"Our Reporter","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/pointblanknews.com\/pbn\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/83b3820ef93d502ae3a617b2c881ca42?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/83b3820ef93d502ae3a617b2c881ca42?s=96&d=mm&r=g","caption":"Our Reporter"},"url":"https:\/\/pointblanknews.com\/pbn\/author\/admin\/"}]}},"_links":{"self":[{"href":"https:\/\/pointblanknews.com\/pbn\/wp-json\/wp\/v2\/posts\/105139","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/pointblanknews.com\/pbn\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/pointblanknews.com\/pbn\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/pointblanknews.com\/pbn\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/pointblanknews.com\/pbn\/wp-json\/wp\/v2\/comments?post=105139"}],"version-history":[{"count":0,"href":"https:\/\/pointblanknews.com\/pbn\/wp-json\/wp\/v2\/posts\/105139\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/pointblanknews.com\/pbn\/wp-json\/wp\/v2\/media\/105140"}],"wp:attachment":[{"href":"https:\/\/pointblanknews.com\/pbn\/wp-json\/wp\/v2\/media?parent=105139"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/pointblanknews.com\/pbn\/wp-json\/wp\/v2\/categories?post=105139"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pointblanknews.com\/pbn\/wp-json\/wp\/v2\/tags?post=105139"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}