The Depots and Petroleum Products Marketers Association of Nigeria (DAPPMAN) pledged its support for the federal government’s elimination of fuel subsidies on Wednesday in Abuja.
The statement was made by the association’s chairperson, Winifred Akpani, at the conclusion of a meeting with President Bola Tinubu.
She also stated that the association would support the government’s palliative measures by donating 50 to 100 mass transport buses.
Ms Akpani stated that the buses would be produced locally and run on compressed natural gas.
“We pledge our support for President Tinubu’s audacious decision to eliminate petrol subsidies.” It is a long-overdue concept.
“Removing subsidies does not mean raising the cost of fuel and putting it out of reach of Nigerians.” It is all about getting the real issue of petroleum product subsidies correctly.
“Who are the recipients of the subsidy?” The subsidy ends up being enjoyed by those who were not intended to benefit from it.
“We also spoke with the president about petrol substitutes as well as creating an environment conducive to investment in the oil sector,” she said.
The DAPPMAN delegation was led by Governor Dapo Abiodun of Ogun State, who described the subsidy reduction as a brave measure that portended significant economic progress.
He stated that the withdrawal of gasoline subsidies demonstrated Mr Tinubu’s willingness to confront the difficulties of the oil and gas sector.
“Subsidy has grown to N4 trillion per year, and its elimination will free up more funds for economic development.”
“The removal of subsidies will unleash Nigeria’s potential because it will free up a lot of resources for the development of other sectors of the economy.”
“The National Economic Council will convene soon to consider interventions on subsidy removal.”
“The interventions will undoubtedly be a long-term solution to the effect of the removal of fuel subsidies on Nigerians,” Mr Abiodun added.
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