The Nigerian National Petroleum Company Limited (NNPCL) has welcomed the pronouncement of President Bola Tinubu on the removal of fuel subsidy.

In an emergency press conference at the NNPC Towers, Abuja, NNPCL told Nigerians that the move was in the best interest of the company.

According to the Group CEO of the company, Mele Kyari, the company has been spending a substantial amount of its profits in the subsidy of the product

Kyari however said there was no need for panic buying as fuel queues had been noticed in some part of the country.