‘We Are Not In Support’ – IPMAN Rejects Fuel Subsidy Removal

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has rejected the announcement on Monday by President Bola Ahmed Tinubu on fuel subsidy removal.

Naija News reported that during his inaugural speech at the Eagles Square in Abuja, Tinubu declared that his administration would not continue to pay subsidy on petroleum products.

He explained that the 2023 budget projected by his predecessor, former President Muhammadu Buhari made no provision for fuel subsidy, so further payment was no longer justifiable.

In a swift reaction on Monday, IPMAN National Public Relations Officer, Chinedu Ukadike said the association is not in support of the removal of fuel subsidy at this time.

He said the refineries in the country should be fixed before taking such a decision that will cause galloping inflation and inflict more hardship on the masses.

According to Ukadike, the new government should sit and discuss with marketers and other stakeholders how to manage the fuel subsidy regime.

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.

He said: “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 a 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.”