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Subsidy: Tinubu charges oil marketers to work with govt

PRESIDENT Bola Tinubu has charged Nigeria’s top oil marketers to work together with his government to address the requirements and demands of Nigerians following the removal of fuel subsidy.

The president issued the clarion plea at a meeting with leaders of major oil marketers’ associations yesterday Aso Rock Villa in Abuja.

According to him they discussed how to ensure a steady supply of fuel goods in the country.

Governor Dapo Abiodun of Ogun State led the oil traders.

The president stated on Facebook that his administration is committed to honest oil marketing.

“At a meeting yesterday with representatives of major oil marketers’ associations, in the course of the discussions, I emphasized my administration’s total commitment to a competitive, stable and transparent oil market and challenged the marketers to work with the government to ensure regular supply and convenient access to fuel products across the country at the lowest possible price,” Tinubu disclosed.

The President announced the removal of petrol subsidy payments during his inaugural speech on May 29 at Eagle Square in Abuja.

He stated that the previous administration of Muhammadu Buhari did not include subsidy in the 2023 budget beyond June.

Following his meeting with the oil marketers, President Tinubu asked the National Economic Council (NEC), led by Vice President Kashim Shettima, to devise a strategy and begin working on measures to offset the impact of subsidy reduction on Nigerians.

Dapo Abiodun, Governor of Ogun State, announced this after leading some big oil marketers on a courtesy visit, saying the marketers voiced sympathy with the President for reducing the 4 trillion naira subsidy burden, a move that can increase FAAC allocation to states.

Governor Abiodun, a former chairman of the Oil Marketers Association, told reporters that a group of marketers who visited the president yesterday expressed their desire to provide fifty to a hundred ’50-seater’ mass transit vehicles to serve the populace.

This is projected to cost roughly 100 million naira each person and 10 billion naira in total to mitigate the impact of the subsidy reduction within the next 30 days.

The marketers also expressed hope that other corporate bodies can emulate their action.

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