In Abuja, the Depots and Petroleum Products Marketers Association of Nigeria (DAPPMAN) expressed its commitment to backing the Federal Government’s decision to eliminate fuel subsidies.
At the conclusion of a meeting with President Bola Tinubu, Dame Winifred Akpani, the chairperson of the association, revealed that they would extend their support to the government’s palliative initiatives. Additionally, the association pledged to contribute between 50 and 100 mass transit buses to aid in these efforts.
Akpani further specified that the buses would be manufactured within the country and would operate using Compressed Natural Gas (CNG) as their fuel source.
“We pledge our support for President Tinubu in the bold decision of removing petrol subsidy. It is an idea that was long overdue.
“Removal of subsidy is not about making fuel costly and taking it out of the reach of Nigerians. It is about getting it right on the real issue of petroleum product subsidy. Who are those enjoying the subsidy? The subsidy ends up being enjoyed by those it was not meant for.
“We also spoke to the president about substitutes to petrol as well as creating an environment conducive for investments to thrive in the oil sector,” she said.
Governor Dapo Abiodun of Ogun State, who headed the delegation from DAPPMAN, commended the bold decision to remove fuel subsidies, highlighting its potential to drive positive economic growth. According to him, the elimination of fuel subsidies is a clear demonstration of Tinubu’s commitment to tackling the issues facing the oil and gas industry.
“Subsidy has become a N4 trillion per annum issue and its removal will release more funds for economic development.
“Subsidy removal will unleash the potential of Nigeria because it will open up a lot of resources for the development of other sectors of the economy.
“The National Economic Council will soon begin sitting to propose interventions on the subsidy removal.
“The interventions will definitely be a long-lasting solution to the effect of fuel subsidy removal on Nigerians,” Abiodun said.