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Reason fuel subsidy removal is important to Nigeria’s economy – IPMAN

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has said subsidy removal is very important to Nigeria economy. THE GUARDIAN reportsInformation Guide Nigeria

IPMAN spokesperson Yakubu Suleiman on Channels Television’s Sunrise Dailyprogramme on Wednesday said the move is the only way to make Nigeria great.


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During his inaugural speech after he was sworn in on Monday, President Bola Ahmed Tinubu announced the removal of fuel subsidy.

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“Subsidy can no longer justify its ever-increasing costs in the wake of drying resources. 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,” Tinubu said.JAMB Result

“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.”

Tinubu’s announcement saw the return of fuel queues and Nigerians forced to buy a litre of petrol between N550 and N650.

“IPMAN’s position is that the Independent Petroleum Marketers Association of Nigeria (IPMAN) is supporting or has supported the deregulation of the industry,” Suleiman said.

“Removing subsidy is the only answer to make Nigeria great because there is no country that can survive without deregulating the economy.NYSC Portal

“We really applaud Mr President for having the courage to announce the removal of subsidy.”

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Goodnews

Essien, Goodnews is a gruaduate of Communication Arts, University of Uyo, Uyo; Currently working at Infoguide Media as a news writer.

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