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Reading: Subsidy Removal: IPMAN Commends Tinubu, Calls for Palliatives
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Subsidy Removal: IPMAN Commends Tinubu, Calls for Palliatives

The Independent Petroleum Marketers Association of Nigeria ( IPMAN ) has lauded President Bola Tinubu for the removal of fuel subsidies and...

Chima Joseph Ugo
Chima Joseph Ugo - Editor-in-chief June 10, 2023
Updated June 10, 2023 at 3:20 PM
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Subsidy Removal: IPMAN Commends Tinubu, Calls for Palliatives
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Subsidy Removal: IPMAN Commends Tinubu, Calls for Palliatives
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has lauded President Bola Tinubu for the removal of fuel subsidies and has called on him to implement measures to provide relief for Nigerians. 

Speaking to reporters in Abuja, IPMAN's national president, Debo Ahmed, expressed their long-standing support for subsidy removal due to its impact on the economy and the market. 

However, Mr Ahmed emphasised the need for the government to establish a comprehensive palliative package to alleviate the hardships faced by Nigerians and marketers alike.

He urged the government to plan for palliatives such as the provision of buses and salary increases, noting that the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) should be responsible for salary adjustments. 

Mr Ahmed stressed that these measures should have been implemented earlier, but unfortunately, the government did not take such actions. However, he expressed confidence that the new government is taking steps to address the issue of palliatives.

Mr Ahmed also highlighted that a significant amount of money that should have been allocated to the country's development was being spent on subsidies. Previously, only the Nigerian National Petroleum Company Limited (NNPCL) was involved in fuel imports, and all marketers relied on it for their products. 

However, with the subsidy removal, IPMAN had accumulated pending tickets worth approximately N5 billion from NNPCL retail, which they have been unable to access.

With IPMAN controlling 70% of the market, Mr Ahmed emphasised that the association had achieved its original purpose. The implementation of the subsidy removal and the subsequent need for palliatives represent significant milestones in the petroleum industry. (NAN)

Tags: Nigeria

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