Mkpoikana Udoma
Port Harcourt — The Independent Petroleum Marketers Association of Nigeria, IPMAN has urged President Bola Ahmed Tinubu, to suspend the planned fuel subsidy removal, but rather hasten the repair of the nation’s four refineries.
This is as President Tinubu in his inaugural speech earlier today announced plans to remove fuel subsidy.
Speaking, IPMAN Chairman in Rivers State, Dr Joseph Obele said that already fuel queues were resurfacing in parts of the country including Abuja and Lagos, as there was a supply gap in the system.
Obele recalled that in most of President Tinubu campaign messages, he did not miss words by announcing his plans to remove fuel subsidy, the move, according to him has led importers to suspend fuel importation.
He maintained that though Dangote refinery will end fuel scarcity in the country, it will, however, worsen inflation in the country as inflation.
“IPMAN will join NUPENG and PENGASAN to call on our President Alhaji Bola Ahmed Tinubu to suspend the fuel subsidy removal.
“Some stakeholders have attributed the current supply gap to his statement, because it was perceived that importers have suspended importation until further rebuttal is made by him.
“Basically, there is a supply gap nationwide. Supply by NNPC regrading quantity demanded by marketers has dropped by 60percent nationwide. Serious fuel queues are building in Northern part of Nigeria, Lagos and Abuja.
“Dangote refinery will end the reign of fuel scarcity in Nigeria, because we shall have sufficient petroleum products available in Nigeria, unfortunately his price will worsen Nigeria inflation since he is going to sell at global competitive rate.
“The current Nigeria inflation which is 22.4percent will increase by 400percent and it will affect prices of other commodities that will in turn bring more untold hardship on the citizens of Nigeria.”
IPMAN further stated that it will be salutary to have the nation’s owned refineries functional, instead of taking glory in a private owned refinery.
“Furthermore, we call on our President to facilitate the repair of Port Harcourt, warri and Kaduna refineries, because the pace of the ongoing repair is very slow arising from the fact that the outgone administration took delight in importing from foreign refineries owned by their business partners.”
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