Not in support-IPMAN Rejects Tinubu’s Subsidy Removal Plan
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has rejected the subsidy removal plan of President Bola Tinubu, saying, they are not in support.
President Tinubu on Monday, in Abuja, affirmed that his administration would not continue to pay subsidy on petroleum products.
He noted that the Federal Government has suffered much in funding subsidy and according to him, it was no longer justifiable to continue.
“The fuel subsidy is gone,” Tinubu announced during his inaugural speech at Eagle Square, Abuja, shortly after he was sworn in as the 16th President of Nigeria.
The President said “Subsidy can no longer justify its ever-increasing costs in the wake of drying resources. We shall instead re-channel the funds into better investment in public infrastructure, education, health care and jobs that will materially improve the lives of millions.”
Reacting to the declaration, IPMAN
National Public Relations Officer, Chief Ukadike Chinedu on Monday said it was opposed to the new president’s subsidy removal plan and the new government should dialogue with marketers before taking the decision to remove subsidy, Daily Trust reports.
“We are not in support of the removal of fuel subsidy at this time. We have said it repeatedly that our refineries should be fixed before taking such decision that will cause galloping inflation and inflict more hardship on the masses.
“The government of President Tinubu should not adopt what is in the transition document handed over to it by the administration of former President Muhammadu Buhari. Someone (Buhari) who for eight years did not remove subsidy is advising a new government to remove it.
“That is not fair and should not be adopted. Rather the new government should sit and discuss with marketers and other stakeholders on how to manage the fuel subsidy regime. We now have the Dangote Refinery, but all our refineries are still not working, so we don’t think removing subsidy is the right thing to do now,” Ukadike stated.
He said IPMAN was ready to work with the new government and would proffer measures to address the fuel subsidy regime, instead of effecting an outright halt in subsidy.
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