As a result of President Bola Tinubu's announcement that the era of subsidy payment on fuel has ended on Monday during his inaugural speech at the Eagle Square in Abuja, prices have increased across the nation as a direct consequence of this change.

As a result, fuel lines have reappeared in many parts of the country as Nigerians scramble to get the premium product, the price of which has increased from approximately N185 to between N400 and N600 per liter.

However, in the course of an appearance on the program Politics Today broadcast on Channels Television, Kyari gave assurances to Nigerians that the current state of affairs won't persist for long.
"I don't see it standing beyond another day or two (days) max," the boss of the NNPCL remarked. "I don't see it (queues) actually standing beyond Saturday," said the person in the queue.

"We have supplies for the primary challenge that the PMS system presents, which is supply. Over 810 million liters of petroleum are stored in depots, tanks, and fuel stations located throughout the country.

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"Therefore, you won't run into any difficulties when moving those. That indicates that you have supplies lying around in your home already. People are freaking out and rushing to gas stations to stock up. They are now aware that there is consistency in pricing, therefore they have no choice but to return.

Earlier, Kyari disclosed that the administration of President Bola Tinubu had concluded a deal to have one of the four refineries rebuilt and working at an optimal level before the end of the year. Kyari's revelation came as a surprise to many.
Following the increase in pump price and the subsequent effect on commercial fare, the NNPC said this when he visited the National Chairman of the All Progressives Congress, Senator Abdullahi Adamu, at the party secretariat in Abuja. He stated that the president is working out some palliative measures to ease the pains of Nigerians. Senator Abdullahi Adamu is the National Chairman of the All Progressives Congress.

According to him, there is a process of rehabilitation that is currently taking place in order to assure that one of the refineries will be ready this year.

"I am aware that the President of the United States Joe Biden has commanded some engagements, and some palliatives will be put into place. I have no doubt in my mind that this will take place. The process of rehabilitation is still going on currently. This year will see the introduction of one of them, the following year will see the introduction of the second one, and after that, the third one will appear.

"It goes without saying that it is abundantly clear that we are no longer able to afford the subsidies. The bills for the fuel subsidy have accumulated. The government is unable to compensate NNPC for the amount of money that is being spent on subsidies. According to his statement, "setting the price of this petroleum at the market price is the appropriate action to take at this point in time, and I believe that it would be to the country's interest in the long term."