Following the commencement of the new price regime for Petroleum products, the federal government yesterday disclosed that it did not pay any subsidy on products in January 2016, despite having paid about N1.1 trillion in 2015.The Minister of State for Petroleum and Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Ibe. Kachikwu revealed this when he appeared before the House of Representatives Committee investigating the offshore processing agreements (OPAs) and crude oil swaps between NNPC, its subsidiary, the Petroleum and Pipelines Marketing Company, and oil traders.
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