Nigeria’s Petroleum Marketers Support Tinubu’s Move To End Subsidy Regime

Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) has expressed full support to the decision of the President Bola Tinubu-led administration to sustain the removal of petrol subsidy since its inauguration on May 29.

To demonstrate its support in tangible terms,  DAPPMAN said it would donate Compressed Natural Gas (CNG) compliant buses estimated to cost N10 billion, to boost Nigeria’s mass transportation network.

Chairman of the association, Mrs Winifred Akpani, who made this known Wednesday while speaking with newsmen after she led a delegation of the body to the State House on courtesy visit tovPresident Tinubu at the State House, Abuja. 

Akpani, who is also the Managing Director of Northwest Petroleum and Gas Company Limited, also said this is an opportunity they had awaited for a long time and praising President Tinubu for having the courage and boldness to implement.

She said: “That is borne out of the fact that we have desired, we have prayed for this day to come and we’re happy that the day is finally here.

“We did pledge that we are going to work at providing real mass transit buses that work. The ones that will work on the compressed natural gas (CNG) and diesel interchangeably and hopefully we are going to start with about 50-100 and that is in a very short time”.

According to her, the scheme will help provide employment to a lot of Nigerians because the buses would be locally produced.

“These are locally produced vehicles so we are also providing jobs because we are using local assembly plants; we are not importing the buses and that is less pressure on our foreign exchange and more jobs for Nigerians”.

The DAPMAN leader said President Tinubu was happy with the development, as she expressed optimism that very soon Nigerians would see that the removal of subsidy on petrol was a good move by the President.

She therefore urged all citizens to support the President in that direction in order to move the country forward.

Corroborating her claims, Governor Dapo Abiodun of Ogun state confirmed that each of the buses will cost N100 million and each would be a 50 seater bus.

“They are all 50 seater buses and each is about N100 million each. So, they are donating 100 buses and that is N10 billion,” he said.

The Governor said contrary to insinuations, petroleum marketers have never opposed the deregulation of petrol.

“I believe this singular step demonstrates the fact that they have keyed into this administration’s very laudable policy and they are in support of deregulation,” he added.

Abiodun called on other members of the organized private sector like the Bankers Committee to follow suit and do more to cushion the effect of the removal of subsidy on Nigerians.

Others on the entourage included Chairman of Ardova Plc, who was also representing Major Oil Marketers Association of Nigeria (MOMAN), AbdulWasiu Sowami; Managing-Director of NIPCO P, Suresh Kumar; Group Managing Director of Rainoil Lmt. Dr Gabriel Ogbechie; and the Financial Secretary of DAPPMAN and Managing Director of Mainland Oil and Gas Lmt, Chris Igwe.

Deji Elumoye in Abuja

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