Blame Game: Fuel Subsidy removal Buhari’s decision — Tinubu
…Nigerians groan as petrol sells for N600/ltr
…We have sufficient supply of PMS — NNPCL
…FCCPC, LASCOPA form Joint task-force to penalise erring marketers
…Don’t panic — NMDPRA tell Nigerians
…MOMAN, DAPPMAN laud Tinubu, urge stations to remain open
…‘Fuel scarcity is unfair,’ marketers taking undue advantage of Nigerians — Sanwo-Olu
By Ibiyemi Mathew, Ismail Azeez, Osogbo, Matthew Denis, Abuja
President Bola Ahmed Tinubu has clarified that the decision to remove fuel subsidy was approved by former President Muhammadu Buhari before his exit from office on May 29, 2023.
Tinubu said the decision to remove subsidy is neither a new development nor an action of his new administration.
He added that he was merely communicating the status quo noting that the previous administration’s budget for fuel subsidy was planned and approved to last for only the first half of the year.
Speaking further, President Tinubu advised Nigerians to desist from panic-buying stating that it is needless and the policy will not take immediate effect.
He reiterated the plans of his administration to re-channel the funds previously devoted to the payment of subsidies to investments in public infrastructure, education, healthcare and jobs that will materially improve the lives of millions of Nigerians and increase their earning potential.
Nigerians groan as Petrol sells for 600/ltr
A survey by Nigerian NewsDirect yesterday showed that petrol is being sold averagely for N600 per litre across Lagos, Ogun and Ekiti State.
Checks by our reporters in Ijoko, Ota Abeokuta, Ilishan, Ikeja, Yaba, Bank Road, revealed that Petroleum Marketers in the area were selling the price per litre of Premium Motor Spirit (PMS) between N400 and N700 per litre.
This is even as Trade Union Congress of Nigeria (TUC) has said the labour movement is open and ready to dialogue with President Bola Tinubu-led administration on the fuel subsidy issue.
Survey by Nigerian NewsDirect observed that fuel queues have resurfaced in petrol stations across Abuja, the nation’s capital city, South South, South West, and other’s as many motorists were seen scrambling to get petroleum products.
Checks by NewsDirect in the city centre and satellite town showed pockets of queues in many filling stations as motorists were seen making frantic efforts to buy the fuel in anticipation of the price increase that may follow the announcement.
Also some areas such as Ikeja, Ojodu, Epe, Ikorodu, Ketu, Maryland, Bariga and Ikorodu Road, among others, reports that there were long queues, while some were shutdown resulting in gridlock.
Panic reaction of possible adjustment in the pump price of Premium Motor Spirit, (PMS), also referred to as petrol, has lengthened queues at some filling stations in Lagos.
Some major oil marketers stations that were opened were not selling fuel on the account of awaiting directives from headquarters.
Meanwhile, a few areas of the metropolis monitored by Nigerian NewsDirect, showed cars queuing up, while other buyers were seen with different sizes of kegs and jerrycans to buy the product.
A concerned Nigerian on Twitter (@priyedavid) reacting to the price hike said, “The subsidy has not been removed yet, why is there (induced) scarcity of petrol? I think this one is a wickedness thing sha.
“Petrol stations deliberately withholding petrol to force demand so that they can increase the price of petrol is unfair,” he said.
We have sufficient supply of PMS — NNPCL
In response to the panic buying by Nigerians across the country, the Nigerian National Petroleum Company Limited (NNPCL) has assured Nigerians of a sufficient supply of Premium Motor Spirit popularly known as petrol.
Addressing the press, the Group CEO of NNPC Limited, Mele Kolo Kyari added that NNPC Limited is also monitoring all its distribution networks to ensure compliance.
Kyari also welcomed the decision by the Federal Government to remove subsidies on PMS.
He noted that the removal of the subsidy, which has been a burden on NNPC Limited’s cash flow, will free up funds to enable optimal operations within the company.
He added that the company as the supplier of last resort as mandated by the Petroleum Industry Act (PIA) would continue to ensure availability of PMS and other petroleum products.
FCCPC, LASCOPA form Joint task-force to penalise marketers hoarding PMS
The Federal Competition and Consumer Protection Commission (FCCPC) has formed a joint task-force with the Lagos State Consumer Protection Agency (LASCOPA) in response to the hardship on motorists and other consumers occasioned by President Bola Ahmed Tinubu announcement on the removal of fuel subsidy.
According to a press statement issued by the Commission, the Commission revealed that it has had series of engagement with the Lagos State Consumer Protection Agency (LASCOPA), Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and Major Oil Marketers Association of Nigeria (MOMAN) on the current situation.
Noting one of the outcomes of the engagement, the Commission said it has agreed with LASCOPA, (and its expanding participation) on a Joint Inter-Agency Task Force to enforce the provisions of the law, ensure compliance and prevent hardship on citizens.
“Product marketers have been informed that any infringement which distorts the market or enables others to exploit consumers and perpetuate inconvenience will be subject to the aggravated and highest spectrum of penalties where evidence supports violation.
“Organised marketing or trading associations/platforms such as MOMAN and the Independent Petroleum Marketers Association of Nigeria (IPMAN) are in particular invited to note this and their collective and individual possible exposure in the event of evidence-supported violations,” the commission emphasized.
No need to panic over removal of subsidy — NMDPRA
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has cautioned Nigerians to refrain from panic buying of Premium Motor Spirit (PMS).
In a press statement issued by the Authority, the Authority called on Nigerians to remain calm and resist the urge to stockpile as it poses significant safety hazard.
The Authority also assured Nigerians of ample supply of PMS to meet demand moting that it has taken necessary steps to ensure distribution channels remain uninterrupted and fuel is readily available at all filling stations across the country.
“We are working closely with NNPC Limited and other key stakeholders to guarantee a smooth transition, avoid any disruptions in supply as well as ensure that consumers are not short-changed in any form.
“The NMDPRA reassures all Nigerians that the removal of subsidy on PMS is a step towards building a more sustainable and prosperous future for our nation. We will continue to monitor activities and implement necessary measures to enhance transparency and accountability in the petroleum downstream sector,” the statement read.
MOMAN, DAPPMAN laud Tinubu, urge stations to remain open
The Major Oil Marketers Association of Nigeria (MOMAN) and Depot and Petroleum Marketers Association of Nigeria (DAPPMAN) have applauded the pronouncement by President Bola Ahmed Tinubu on the phase-out of the petrol subsidy regime.
In a joint press statement, the associations noted that the policy is a direction that signals a courageous and pragmatic shift in our nation’s economic trajectory.
“The decision to phase out this fuel subsidy regime is not merely a fiscal reform; it is a significant stride toward social justice. We are heartened that the administration plans to redirect these substantial funds towards essential public goods such as infrastructure, education, and healthcare.
“These investments symbolize our shared future, promising considerable, long-term benefits for all Nigerians,” the statement read.
The association also noted that there is no cause for alarm while urging Nigerians to avoid panic buying and stockpiling of petrol.
It noted that this behavior not only creates artificial scarcity but also poses a significant safety hazard.
The association also revealed that the NMDPRA is working closely with stakeholders to ensure a seamless transition and ensuring distribution channels remain uninterrupted, thereby making fuel readily available at all filling stations across the country.
The association warned suppliers to continue supplying products to all legitimate marketers and urged all stations to remain open and avoid hoarding products.
Adeleke threatens to seal stations, prosecute dealers
However, the administration of Governor Ademola Adeleke on Tuesday warned fuel Marketers in the State deliberately hoarding PMS.
In a statement issued by the Governor Spokesperson, Mallam Olawale Rasheed, said the deliberate action of the fuel Marketers is not only inhumane but unpatriotic that the government will not be allowed.
“The attention of the Osun State Government has been drawn to the deliberate hoarding of PMS by the fuel dealers within the State as a result of the statement from the Inaugural Speech of the new President of the Federal Republic of Nigeria, Asiwaju Bola Ahmed Tinubu on the removal of fuel subsidy, thereby causing unnecessary hardship for the people in the State.
“This deliberate action is not only inhumane but unpatriotic and will not be allowed by the government. To this end, the Special Monitoring Team on fuel scarcity constituted by His Excellency, Governor Ademola Nurudeen Jackson Adeleke headed by the Chief of Staff, Hon Kazeem Akinleye is still effective and shall not condone any form of economic sabotage.
“As from today, 30th May 2023, the Committee shall begin special monitoring of all the filling stations across the state in collaboration with law enforcement agencies and other stakeholders.
“Any fuel station found guilty of hoarding fuel to create artificial scarcity shall be sealed off and operators prosecuted for crime of economic sabotage,” the statement added.
‘Fuel scarcity is unfair,’ marketers taking undue advantage of Nigerians — Sanwo-Olu
Lagos State Governor Babajide Sanwo-Olu has berated fuel marketers for taking undue advantage of Nigerians by hiking fuel prices.
Sanwo-Olu spoke on Tuesday when he paid a surprise working visit to civil servants at the secretariat in Alausa, Ikeja.
The Governor was accompanied by Deputy Governor Obafemi Hamzat, and taken round by the Head of Service, Hakeem Muri-Okunola.
Sanwo-Olu, who described the sudden hike in petrol price and attendant queues as ‘unfair’, said, “I think it’s unfair of our major marketers to seize opportunities in areas when not needed. We all need to be sincere in this country if we really want to get things done. Let us know that we might need to belt up a little bit, but we really need it so that we can have a better life in future.
“There is nothing that has changed in that pronouncement that should have caused queues, but I’m sure the Federal Government is able to deal with it. I encourage everyone to be law abiding, go about their normal businesses and things will turn out for the better for us.”
