The Independent Petroleum Marketers Association of Nigeria (IPMAN) has declared that it has the numerical strength to force a downward review of the price of Premium Motor Spirit also known as petrol.
IPMAN's National President, Chinedu Okoronkwo at a news conference in Abuja on Wednesday told newsmen that the unbundling of the downstream sector has opened the doors for more investors.
According to Okoronkwo, his members are totally in support of fuel subsidy removal by President Bola Tinubu, while expressing optimism that that the association has the numerical strength to force down the price of fuel once they start independent importation of the product.
It would be recalled that President Tinubu in his inaugural speech on May 29, 2023, announced the removal of fuel subsidy, noting that the 2023 Budget made no provision for subsidy payment after June.
That announcement culminated into a panic in the oil sector causing fuel scarcity and hike in price of petrol.
Comments
Post a Comment