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.
“We commend the decision of the outgoing administration in phasing out the petrol subsidy regime which has increasingly favoured the rich more than the poor.” “Second, industrial policy will utilize the full range of fiscal measures to promote domestic manufacturing and lessen import dependency. “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.
When contacted to state their position on the issue, the Petroleum and Natural Gas Senior Staff Association of Nigeria stated that it would not comment on the development now, as it was currently studying the new administration.
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