Subsidy Removal Only Answer To Make Nigeria Great – IPMAN

The petroleum marketers association urged Nigerians not to engage in panic buying, saying that petrol is sufficiently available in the country.


A fuel queue in Abuja, Nigeria on Tuesday, May 30, 2023. Photo: Taiwo Adeshina

 

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has said that the deregulation of the oil sector and subsidy removal is the only way to make Nigeria great.

“IPMAN’s position is that the Independent Petroleum Marketers Association of Nigeria (IPMAN) is supporting or has supported the deregulation of the industry,” IPMAN National Public Relations Officer, Yakubu Suleiman said on Channels Television’s Sunrise Daily programme on Wednesday.

“Removing subsidy is the only answer to make Nigeria great because there is no country that can survive without deregulating the economy.”

 

 

He commended President Bola Tinubu for announcing subsidy removal in his inaugural speech.

“We really applaud Mr President for having the courage to announce the removal of subsidy,” he stated.

Suleiman said Tinubu was only informing Nigerians that there is no more subsidy, noting that the administration of former President Muhammadu Buhari has announced subsidy removal by not making provision for it beyond June 2023 in the budget for this year.

The IPMAN spokesman said refined petrol without subsidy payment will come into force by July and not June.

He maintained that though discussions with stakeholders are important, the way to go is subsidy removal.

The IPMAN spokesman urged Nigerians not to engage in panic buying as Premium Motor Spirit also known as petrol is sufficiently available in the country at the moment.

NLC, FG To Meet Today

Meanwhile, the Federal Government representatives are expected to meet with the leadership of the Nigeria Labour Congress (NLC) today (Wednesday) by 2pm over the planned removal of fuel subsidy.

This was disclosed by NLC National President, Joe Ajaero, who was also a guest alongside IPMAN spokesman on Channels Television’s Sunrise Daily programme on Wednesday

“Government seems to have shown interest in discussion. As at last night, they reached out and we have fixed 2pm today (Wednesday) to commence discussion,” .

“There, all other issues will discussed because you can’t just say there no subsidy and then you are not producing and leave us to the vagaries of the market, to people who want to sell the product they bought for N10 for N100 to maximise profit. If there is no more garri, we must find out what to eat.”