The Independent Petroleum Marketers Association of Nigeria has opposed the plan by President Bola Tinubu to enforce his predecessor’s decision to remove fuel subsidy by June ending.
Tinubu had earlier on Monday, in Abuja, affirmed that his administration would not continue to pay subsidy on petroleum products.
He said given the high opportunity cost the Federal Government was suffering to fund subsidies, it was no longer justifiable to continue.
“The fuel subsidy is gone!” Tinubu exclaimed during his inaugural address at Eagle Square, Abuja, shortly after he was sworn-in as the 16th President of Nigeria.
He said since there was no provision for subsidy in the budget from June 2023, and it stands removed.
However, reacting on Monday, IPMAN said it was opposed to the new president’s subsidy removal plan
The National Public Relations Officer, Independent Petroleum Marketers Association of Nigeria, Ukadike Chinedu, urged the new government to dialogue with marketers before taking the decision to remove subsidy.
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.
