Nigerian National Petroleum Company Ordered To Reduce Petrol Price

The Minister of State for Petroleum Resources, Chief Timipre Sylva, says the Nigerian National Petroleum Company Limited is selling Premium Motor Spirit, popularly called petrol, at a loss because of its mandate from the Federal Government as regards PMS subsidy. <br />Sylva insisted that subsidy had been a burden, but stressed that it was a mandate on NNPC which had made the oil firm to continue selling PMS at a loss. <br />He says the management of the supply situation under this subsidy regime is not easy<br />