Queues have resurfaced in some petrol filling stations in Port Harcourt few hours after President Bola Ahmed Tinubu announced plans to remove the fuel subsidy.
Checks by our correspondent showed that some filling stations hurriedly shut down while others increased the pump price by over 200%.
President Tinubu had announced plans by the Federal Government not to renew payment for fuel subsidy after the current payment elapse in June 2023 as according to him, is only the rich who are benefiting from the subsidy payment.
The Chairman of Independent Petroleum Marketers Association of Nigeria (IPMAN) in Rivers State, Joseph Obele said the queues experienced in some filling stations in Port Harcourt is as a result of announcement by President Bola Amhed Tinubu to remove subsidy on fuel. Mr Obele called on the new President to suspend plans to remove fuel subsidy.
Also, National Public Relations Officer, Independent Petroleum Marketers Association of Nigeria, Chief Ukadike Chinedu, said the new government should dialogue with marketers before taking the decision to remove subsidy.
“We are not in support of the removal of fuel subsidy at this time. We have said it repeatedly that our refineries should be fixed before taking such decision that will cause galloping inflation and inflict more hardship on the masses.
“The government of President Tinubu should not adopt what is in the transition document handed over to it by the administration of former President Muhammadu Buhari. Someone (Buhari) who for eight years did not remove subsidy is advising a new government to remove it.
“That is not fair and should not be adopted. Rather the new government should sit and discuss with marketers and other stakeholders on how to manage the fuel subsidy regime. We now have the Dangote Refinery, but all our refineries are still not working, so we don’t think removing subsidy is the right thing to do now,” Ukadike stated.
He said IPMAN was ready to work with the new government and would proffer measures to address the fuel subsidy regime.
The government of President Tinubu should not adopt what is in the transition document handed over to it by the administration of former President Muhammadu Buhari. Someone (Buhari) who for eight years did not remove subsidy is advising a new government to remove it.
However, Responding in an emergency press conference at the in Abuja late Monday night, Nigeria National Petroleum Company Limited (NNPCL) told Nigerians that the move was in the best interest of the company.
According to the Group Chief Executive Officer(GCEO) of the company, Mele Kyari, the company has been spending a substantial amount of its profits in the subsidy of the product.
He however, said there was no need for panic buying as NNPCL has enough products to supply in the next thirty days.
