By Matthew Tabe
Following the removal of fuel subsidy, President Bola Ahmed Tinubu on Thursday met with top executives of energy giant, Exxon Mobil.
President Tinubu received Mr Liam Mallon, who serves as President Exxon Mobil Upstream company, Mr Richard Laing who is the Chairman/MD Exxon Mobil Nigeria and Mrs Adesua Dozie, General Counsel.
The Quest Times learned that the discussion by the Exxon executives could be centred on the subsidy removal and the stoppage of the oil swap deal by the Nigerian National Petroleum Company Limited (NNPC) by Tinubu.
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Recalled that Tinubu had ordered the stoppage of crude oil swap in favour of cash payments for petrol imports about three days ago.
To this effect, the company 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 implication is that NNPC is in the process of ending crude swap contracts with traders. Instead of exchanging crude oil for refined petroleum products, the state-oil company will now make cash payments for petrol imports.
However, the Quest Times gathered that the target of the president is to cripple the activities of cabals and saboteurs in the oil industry with the aim of overhauling the entire sector.