Before implementing the planned deregulation of the petroleum sector, the Independent Petroleum Marketers Association of Nigeria (IPMAN) has urged the federal government to guarantee that local refineries are operational.
IPMAN also urged that the Muhammadu Buhari administration leave the implementation of subsidy removal to the incoming administration of Asiwaju Bola Tinubu for appropriate implementation.
Chief Chinedu Ukadike, the Public Relations Officer of IPMAN, who made the proposal in a statement over the weekend, stated that the abrupt removal of the subsidy will result in arbitrary pricing of the product.
Ukadike stated that President Buhari’s removal of the subsidy would cause hardship for Nigerians and challenges for the incoming government.
He advised the federal government to concentrate on getting the refineries operational rather than removing subsidies.
“IPMAN is in support of the outgoing administration of President Muhammadu Buhari not going into subsidy removal because factors that would necessitate subsidy removal have not been put in place by the government,” he said.
“IPMAN also supports PENGASSAN’s position that our refineries and pipelines should be repaired in order to move petroleum products out of coastal areas to dry land closer to marketers, allowing them to load petroleum products as quickly as possible without having to travel long distances.”
“These are the factors that aid the movement to remove the subsidy regime, and if these factors are not in place, we will not be able to curb petrol importation and protect against exorbitant pricing.”
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