Fuel Subsidy Removal: IPMAN cautions Sanusi, el-Rufa’i against capitalist ideologies

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has called on the former Emir of Kano, Muhammad Sanusi II and Kaduna State governor, Nasir el-Rufa’i, to stop making unguarded comments on the oil and gas sector.

The association’s chairman, Northern chapter, Bashir Danmalam, gave the caution while addressing newsmen in Kano, on Tuesday.

Danmalam was reacting to Sanusi’s comments at the 7th edition of the Kaduna Economic and Investment Summit, where he said that he was full of pity for the incoming president on account of the scale of the economic challenges awaiting him, particularly the knotty issue of petroleum subsidy and debt servicing.

The association’s chairman said the former Central Bank (CBN) Governor and el-Rufa’i had for long been talking about the removal of subsidy at every fora, and that with the current economic situation in the country fuel subsidy removal will cause more hardship for Nigerians, especially the common man.

He said: “What happened after the subsidy of gas (diesel) was withdrawn? The price of anything you can think of has gone up, as a litre of diesel is now being sold at N850.

“The reform of the oil sector has already started by the passing of the Petroleum Industry Act (PIA) by Mr. President, with a 24 months transition period. The management of NNPC must be commended for their consistency in seeing the PIA was passed and implemented to the letter”, IPMAN chairman said.

Danmalam further said, “Today, halfway through the transition period, NNPC has completed its transition and is now a full-fledged limited liability company, with strategic commanding shares in the nearly completed Dangote refinery, the largest refinery in the world.

“It means that as Nigeria exits fuel subsidy, the management of NNPC has invested wisely in local refining capacity to boost domestic consumption, eliminate importation, ease the pressure on our forex, straighten the naira, provide jobs and boost our GDP. Mele Kyari and his team deserve commendation for their doggedness, patriotism and nationalism”.

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