Abuja - Alhaji Abubakar Maigandi, the Vice President, Independent Marketers Association of Nigeria (IPMAN), has commended the Federal Government on the new pump price of petrol. Maigandi said on Wednesday in Abuja that the decision would help to put to an end the persistent petrol scarcity in the country. "This is a good development; the best that will happen is complete removal of the subsidy. "The price they put is a good one, but the best thing is to leave the market open so that people will decide what they want to sell after importation," he said. He assured that the products would be available with this development, adding that the association was ready to continue to support government’s effort. The Petroleum products Pricing Regulatory Agency (PPPRA) has announced a new pump price of N145 per litre for petrol. A statement signed by Mrs Sotonye Iyoyo, the Acting Executive Secretary of PPPRA, said that the new price would take immediate effect "In furtherance of its mandate to ensure the efficient supply and distribution of petroleum products, PPPRA hereby announces, effective immediately, that the new price band for PMS shall be at a maximum of N145 per litre. “However, NNPC retail stations on the outskirts of major cities are advised to sell at price lower than N145 per litre," it said. The statement said that the review became imperative in the face of extreme difficulties faced by petroleum product Importers in sourcing foreign exchange. This, it added, had made it difficult to meet the consumption demand of the nation. "Importers will henceforth be permitted to source for their foreign exchange requirements from the secondary sources. "PPPRA is conscious of the difficulties that Nigerians have been going through in the last few months. "To ameliorate this situation, we shall continue to modulate pricing in accordance with prevailing market dynamics thereby ensuring fair value to all citizens," it said.

Former Secretary of the Independent
Petroleum Marketers Association of Nigeria
(IPMAN), Kano branch, Alhaji Sani Ya'u Babura has
described the recent perceived plan by the federal
government to remove fuel subsidy as a time bomb
that will not yield any positive result to the
country's economy.
Speaking with Vanguard, Alhaji S. Y. Babura said
instead of this purported plan by the federal
government in taking the decision of removing fuel
subsidy it should focus on reviving Nigeria's
refineries as well as concentrate on the Petroleum
Industry Bill PIB to enable the down stream sector
to function as it is applicable in other countries that
supply of petroleum products to it's citizens.
According to him, insecurity and abject poverty
bedeviling Nigeria's masses are enough
catastrophe to Nigerians. He said "The deregulation
will only enable the FG to save more money in it's
accounts but the masses will suffer, so the plan is a
wrong decision especially to the masses".
Alhaji Sani Babura who is also an economists
stated further that the federal government had no
control on the price of petroleum products as it was
the marketers that still determined the prices. He
said that a liter of fuel in Kano state is sold at a
different price in Jigawa, Sokoto and Katsina states
because of the distance. He stressed that
commodities and other basic needs will be highly
expensive as a result of this proposed fuel subsidy
removal.
He added that those who are in support of the plan
are people who do not go to filling stations to
purchase fuel with their money or care for the
masses. He urged the federal government to think
of other ways that will raise revenue in the place of
this fuel subsidy as no government should fold it
arms and allow it's citizens to suffer from unduly
inflation.

SamuelAnyawu:
Political IPMAN

I don't support its removal even though I know it's the right thing.. GEJ saw the massive looting through subsidy and decided to remove it in 2012, But Baba Tinubu and his APC Zombies protested at Ojota and other states in Nigeria....


GEJ We Miss you

Eboski:
let me see if the other tribes from North and West will take over Ojota freedom Square.... 2012 Loading.....