BREAKING: Kyari Appears Before Senate, Says Refineries Not Created To Reduce Petrol Price - 247Updates
Connect with us

Politics

BREAKING: Kyari Appears Before Senate, Says Refineries Not Created To Reduce Petrol Price

Published

on

Forty eight hours after being summoned by the Senate, the Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company (NNPC) Limited, Mele Kyari, has now appeared before the joint committee on appropriations.…CONTINUE READING

The Senate had issued a 24-hour ultimatum on Wednesday to the NNPCL boss after an observations that he had in previous occasions, shunned summons by the Senate to appear before its ad-committee probing over 11 trillion naira expenditure on turn around maintenance of refineries in the country between 2010 and 2023.

Responding to questions by the senate committee on appropriations on the potential drop in pump price of petroleum owing to the expected functionality of refineries, Kyari clarified his comment after he was interrogated again. He explained that it might be possible to have a reduction, but it is not the main objective of the refineries.

He buttressed that maintaining the energy security target has fostered the confidence that in 2024, Nigeria will become a net exporter of petroleum products.

The NNPCL boss affirmed that no subsidy is charged to the federation, adding that the NNPC has contributed 4.45 trillion naira as direct revenue into the federation in a combination of taxes, royalties and dividends and paid 406 billion naira as dividend to Federal Government’s account from July 2023.

Advertisement

Grab This Opportunity Now👇👇👇

    
 
   
Continue Reading
Advertisement
Advertisement
Breaking News3 mins ago

BREAKING: “Where him jungle boots?” – Corper with unique height celebrates as he commences NYSC

Breaking News4 mins ago

6 Confirmed dead as three-storey building collapses in Onitsha

Breaking News5 mins ago

JUST IN: Federal Government Insists on Relocating Kano Medicine Dealers to CWC

Breaking News7 mins ago

BREAKING: Nigerian Army rescues 10 Peace Mass Transit passengers from kidnappers in Kogi

Tech9 mins ago

Tecno Finally Launches Tecno Pova 6 Pro, 108MP camera, 6000mAh Battery

Breaking News10 mins ago

Top 10 Food Items With Highest Price Increase In January 2024

AFCON11 mins ago

BREAKING: Real Madrid Great Zinedine Zidane Has Confirmed His Return To Management

Breaking News13 mins ago

BREAKING: CBN Raises Nigeria’s Monetary Policy Rate to 22.75%

Politics14 mins ago

BREAKING: After Stoning Tinubu’s Picture Amid Hunger, Northern Children Disrespect Shettima

Breaking News16 mins ago

BREAKING: Many Workers, Others Trapped As Building Collapses

Breaking News17 mins ago

Great News For MTN, Airtel Users Who Are Yet To Link Sim Cards To NIN

Breaking News2 hours ago

Massive Crowd Recorded As NLC Nationwide STRIKE Begins (PHOTOS)

Politics3 hours ago

BREAKING: Reps reacts to alleged plan to create six more states

Breaking News3 hours ago

BREAKING: Nigerian Girl Wins Qur’an Recitation Competition In Jordan

Breaking News3 hours ago

BREAKING: Court Restrains Telecom Operators from Deactivating Unlinked SIM Cards in Nigeria

Politics3 hours ago

BREAKING: President Tinubu Unveils Monthly Stipend Plan for Unemployed Nigerian Youths

Breaking News3 hours ago

5 Top Bandit Leaders, 48 Fighters Killed in Deadly Zamfara Clashes

Breaking News3 hours ago

BREAKING: Despite Competition, We’ll Make Our Cement, Food Products More Available, Affordable, Accessible To Our Customers – BUA Group Chairman

Breaking News3 hours ago

Kanika Tekriwal: Cancer Survivor to India’s Youngest Jet Tycoon with $50.61M Empire

Politics3 hours ago

BREAKING: Why I introduced contributory pension – Obasanjo

AFCON4 hours ago

Mauricio Pochettino can’t win Chelsea titles and signing Mykhailo Mudryk should be a sackable offence, says Darren Bent

AFCON4 hours ago

Chelsea stars appear to scream at Mykhailo Mudryk immediately after Virgil van Dijk goal

AFCON4 hours ago

Reporter shares news from within Chelsea as Pochettino sack decision made

AFCON4 hours ago

Pochettino at ‘serious risk’ of sack as Chelsea line up Premier League boss to replace him

AFCON4 hours ago

Sergio Aguero will start training with former team this week ahead of stunning football return

Entertainment4 hours ago

“I Have Never Hold This Kind Of Money In My Life, My Children Negleected Me, But You Show Me Love”- Mama A2 Breakdown In Tears As Kunle Afod Surprises Her With 645k (Watch)

Entertainment4 hours ago

“See as u fresh, chai that thing dey good for your body “Fans reactions as Mercy Aigbe share cute photo with her husband, Kazim Adeoti

AFCON5 hours ago

He is a waste of money,I don’t know where Pochettino went to buy Him from,He killed our game last night’: Thiago Silva Blames ONE Chelsea for their disappointing loss yesterday

AFCON5 hours ago

Enzo Fernandez review why he fights with 24-year-old Chelsea teammate after Liverpool cup defeat

AFCON5 hours ago

He will be a monster if He joins Chelsea,if I’m to be Guardiola I will make sure I highjack the deal as soon as possible to avoid competition’: Ian Wright blown away by 21-year-old who Chelsea reportedly want to sign

Breaking News2 days ago

Lady With The Heaviest Nyãsh in The World Forced To Buy Two Plane Tickets At Airport — See Who How She Struggled To Enter The Plane

Breaking News2 days ago

BREAKING: Nigerians Blame Sunday Igboho For Buhari’s Swollen Legs, Reactions Trail

Health17 hours ago

Stroke kills fast: reduce your consumption of these 4 things if you want to live long

Breaking News1 day ago

Rumble in RCCG as Pastor Adeboye Asks City of David Pastor to Resign Amidst Wigwe’s Death

Breaking News2 days ago

My Husband CHEATED On Me With My Best Friend, So I want to Cheat Him Back To Feel The Way I Did – Regina Life Experience

Health2 days ago

What are the signs of heart disease?

Relationship1 day ago

Never Tell a Woman These 4 Things, It Will Hurt Her So Much

Relationship1 day ago

3 Secrets That You Should Never Tell Your Wife No Matter the Situation

AFCON5 hours ago

He will be a monster if He joins Chelsea,if I’m to be Guardiola I will make sure I highjack the deal as soon as possible to avoid competition’: Ian Wright blown away by 21-year-old who Chelsea reportedly want to sign

Health2 days ago

Effective Home Remedies To Heal Menstrual Cramps

Health2 days ago

Breakfast: 15 Foods You Should Never Eat In The Morning

AFCON5 hours ago

He is a waste of money,I don’t know where Pochettino went to buy Him from,He killed our game last night’: Thiago Silva Blames ONE Chelsea for their disappointing loss yesterday

Health2 days ago

6 Effective Ways to Relieve Back Pain

Health2 days ago

Boost Your Immune System With These Effective Methods

Health2 days ago

3 Reasons Why You Should Have Morning Intercourse Regularly With Your Partner

Breaking News23 hours ago

CBN Removes over N1trn Excess Cash from Access Bank, Zenith, Others To Fix Naira Fall, Inflation

Breaking News23 hours ago

White woman gives birth to a Black child, says her great-great-great grandparent was Black, and the child took after them [VIDEO]

Health16 hours ago

I ignored these cancer symptoms for years because I was scared – now I could die within months at 31

AFCON1 day ago

Meet 8 Brothers Who Play Football For Different Countries

Health2 days ago

STDs Increasing Among Nigerian Youths – Foundation

Health2 days ago

Best Anti-Cancer Foods: Top 5 Superfoods Most Recommended by Experts

AFCON2 days ago

Breaking New: ”Warning” Chelsea owner Todd boehly review why Pochettino will be sacked if possible he loses the final against Liverpool today

Health16 hours ago

Experts say there is no need for gaps in the mouth | Health Focus

Breaking News23 hours ago

Girls try to run out on restaurant bill, but had to come back because they left their car keys [VIDEO]

Health2 days ago

Positive Effects Of Apple On People With Low Sèx Drive

Health2 days ago

Baby Dove Teams Up With Black Owned Birth Justice Organization To Expand Doula Services To Black Mothers

AFCON2 days ago

BREAKING: Osimhen scores again for Napoli

Politics2 days ago

BREAKING: Nigerians will Never stop Suffering & Pains, Fact is that Nigeria’s Oil Production Is 1.7M Barrels per Day While the Same Quantity Is Stolen Every Day – Former President Obasanjo

Politics1 day ago

BREAKING: President Bola Tinubu Appoints Billionaire Business Leaders to Tackle Naira Depreciation

Breaking News2 days ago

BREAKING: UNILAG Student Buys Rice at Massive Discount of N10k from Customs, Shares Experience with Soldier

Trending