The Independent Petroleum Marketers Association of Nigeria, IPMAN, has kicked against the much-talked-about fuel subsidy removal.
The National Public Relations Officer, IPMAN, Chief Ukadike Chinedu stated that though the association applauded President Muhammadu Buhari for planning to sustain subsidy till he hands over, his administration did not provide the factors required for subsidy removal.
“IPMAN commends the administration of President Buhari for considering not removing fuel subsidy before handing over on May 29, 2023. As the National PRO of IPMAN, we are in support of the fact that the current administration should not remove subsidy.
“This is because the factors that should necessitate the removal of subsidy have not been put in place by this outgoing administration. Our obsolete refineries should work and our pipelines should be repaired in order to move petroleum products from riverine areas to dry lands.
“From there, marketers can be able to load products as quickly as possible to their filling stations without travelling long distances. These are the factors that will aid the smooth transition to a no-subsidy regime,” Ukadike stated.
“As independent petroleum marketers, we are the ones who feel the impact on the masses most. So the haste for subsidy removal by the outgoing administration will cause unnecessary hardship and tough times for the in-coming administration.
“So our position as IPMAN is that the issue of subsidy removal should be suspended and the incoming administration should be allowed to handle it” he added.
The call for fuel subsidy removal
BizWatch Nigeria understands that the call for fuel subsidy removal heightened since Bola Tinubu became the President-elect.
During his campaign before the general elections, Tinubu promised to yank off fuel subsidies, as he attributed Nigeria’s economic woes to it.
However, in what appeared to be a move to make Tinubu’s campaign promise a reality, the Buhari-led government secured a $800 million from the World Bank to cushion the effect of the fuel subsidy removal.
