Barely 10 days after announcing the removal of fuel subsidy, President Bola Ahmed Tinubu meets with the top Executives of Exxon Mobile.
THE QUEST TIMES learned that the removal of subsidies and the cessation of an oil swap deal by the Nigerian National Petroleum Company Limited (NNPC) by Mr. President may be the primary focus of the meeting.
The Exxon Mobil Executives at the meeting the paper gathered were Mr Liam Mallon, Mr Richard Laing and Mrs Adesua Dozie.
Recalled that Tinubu had ordered the discontinue crude oil swap in favour of cash payments for petrol imports about three days ago.
To this effect, the company is is winding down crude oil swap contracts with traders and will pay cash for petrol imports as private companies could begin importing petrol as soon as this month.
The swap deal implies that NNPCL is about to terminate its crude swap agreements with traders.
The state-owned oil business will no longer trade crude oil for refined petroleum products; instead, it will pay for petrol that is imported with cash.
The president’s purpose, according to information obtained by THE QUEST TIMES, is to stymie the actions of cabals and saboteurs in the oil industry in order to completely revamp the sector.