Subsidy: I Have Challenged Oil Marketers To Work With Govt – Tinubu

In a brief statement, the president said that his administration is committed to a transparent oil market.



President Bola Tinubu says he has charged major oil marketers in Nigeria to work with his government to be able to meet the needs and demands of Nigerians following the removal of fuel subsidy.

The president’s clarion call was made when on Wednesday, he met with representatives of major oil marketers’ associations at Aso Rock Villa in Abuja.

According to him, they spoke on the way forward towards constant supply of fuel products in the country.

The oil marketers were led by Governor Dapo Abiodun of Ogun State.

In a Facebook Statement, the president said that his administration is committed to transparent oil marketing.

“At a meeting yesterday with representatives of major oil marketers’ associations, in the course of the discussions, I emphasized my administration’s total commitment to a competitive, stable and transparent oil market and challenged the marketers to work with the government to ensure regular supply and convenient access to fuel products across the country at the lowest possible price,” Tinubu disclosed.

The President during his inaugural speech on 29 May at the Eagle Square in Abuja announced the removal of subsidy payment on petrol.

He said that the immediate past administration of Muhammadu Buhari did not make provisions for subsidy in the 2023 budget beyond June.

Following his meeting with the oil marketers, the president directed the National Economic Council (NEC) led by Vice President Kashim Shettima to device an approach and begin the process of working on interventions to mitigate the impact of subsidy removal on the Nigerians.

Governor of Ogun State, Dapo Abiodun, who stated this after leading some major oil marketers on a courtesy visit, said the marketers expressed solidarity with the President for removing the 4 trillion naira subsidy burden, a move that can enhance the FAAC allocation to states.

Addressing correspondents, Governor Abiodun who was a former chairman of the Oil marketers association, stated that the group of marketers who visited the president on Wednesday, announced their intention to donate between fifty to a hundred ’50-seater’ mass transit buses to help the masses.

This is expected to cost about a 100 million naira each and 10 billion naira cumulatively, to cushion the effect of the subsidy removal within the next 30 days.

The marketers expressed a hope that other corporate bodies can emulate their action