The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, Mele Kyari, has said that the Federal Government still owes the company 2.8 trillion naira that it had spent on petrol subsidy.

He stated this while speaking with State House Correspondents after meeting President Bola Tinubuat the Presidential Villa, in Abuja.

Affirming the President’s stance on subsidy removal, Kyari argued that the subsidy payment is no longer tenable as it makes it difficult for the company to fund its core businesses.

The NNPCL boss said that since the provision of the 6trillion naira in 2022, and 3.7trillion naira in 2023, the company has not received any payment whatsoever from the Federation.

Kyari added that this can be a huge challenge for the company, noting that it has severally highlighted this to government that they must pay the NNPC back the money it has spent on the subsidy.