IPMAN Opposes President Tinubu’s Plan To Remove Fuel Subsidy

Independent Petroleum Marketers Association of Nigeria (IPMAN) criticized President Bola Tinubu's plan to go ahead with former President Muhammadu Buhari's plan to remove fuel subsidy by the end of June.

IPMAN said that the government should've held a discussion with the association before announcing this decision, adding that they are not in support of the removal of fuel subsidy until the refineries are fixed.

"We have said it repeatedly that our refineries should be fixed before taking such a decision that will cause galloping inflation and inflict more hardship on the masses," IPMAN's Chief Ukadike Chinedu said, Punch reported.

The chief suggested that the new president shouldn't adopt what the former president has planned, noting that Buhari did not remove the subsidy during eight years of his term and advised the new government to remove it.

Ukadike explained that this is "not fair" to the marketers and other stakeholders.

"The new government should sit and discuss with marketers and other stakeholders on how to manage the fuel subsidy regime," he said. "We now have the Dangote Refinery, but all our refineries are still not working, so we don't think removing subsidy is the right thing to do now."

The General Secretary of Petroleum and Natural Gas Senior Staff Association of Nigeria, Lumumba Okugbawa, refused to comment on the fuel subsidy removal matter at this moment as his office is still "studying the situation and the new government of President Tinubu."

The IPMAN's opposition came after Tinubu said, "The fuel subsidy is gone!" shortly after he was sworn in as the 16th President of Nigeria.

"Subsidy can no longer justify its ever-increasing costs in the wake of drying resources," the president said. "We shall instead re-channel the funds into better investment in public infrastructure, education, health care, and jobs that will materially improve the lives of millions."

He went on to praise the former president for this decision and said that the petrol subsidy regime has "increasingly favored the rich more than the poor."