Subsidy Removal: Marketers applaud FG’s plans for palliatives

Some oil and gas marketers have praised the Federal Government’s efforts to provide appropriate palliatives to mitigate the impact of fuel subsidy reduction on Nigerians.

The marketers made the remarks in separate interviews with the News Agency of Nigeria (NAN) on Monday in Lagos.

Mr Mike Osatuyi, Operations Controller of the Independent Petroleum Marketers of Nigeria (IPMAN), said President Bola Tinubu talked well during the nationwide broadcast.

Osatuyi also lauded Tinubu’s administration for saving over a trillion naira from subsidy reduction in just two months.

He stated that the money saved should be used for everything the President mentioned, such as transportation, school fees, agriculture, industry, and soft loans for various people.

“It is possible for the government to save eight trillion naira in the next year if such a large sum is injected into the system.”

“It will go a long way, provided the money saved is adequately monitored and used judiciously,” he said.

“It is a brilliant speech and a speech of hope,” Osatuyi stated.

“The President has stated that the subsidy payment has been in the hands of a few Nigerians at the expense of our economy and Nigerians, and that they are heartless.”

“If the President acts as promised, Nigerians will have faith in him and his administration.”

“President Tinubu has promised to roll out buses that run on compressed natural gas (CNG) to alleviate Nigerians’ suffering.”

“Such palliative care will also help to alleviate Nigerians’ suffering,” he continued.

The IPMAN boss admitted that a few were enjoying and embezzling subsidised money.

He recommended states and municipal governments to emulate such palliatives for their residents in order to offer relief to all sundries.

“It is not easy to right what has been wronged for 40 years; let Nigerians be patient and believe in President Tinubu.”

Osatuyi stated that the government should guarantee that individuals responsible with implementing the palliatives and what the President had promised are people of integrity, values, and are aware of Nigerians’ pains.

Similarly, Mr Clement Isong, Executive Secretary of the Major Oil Marketers Association of Nigeria (MOMAN), stated, “I believe this was the speech we had been waiting for.”

“However, it must be accompanied by a communication campaign designed to alleviate tensions and foster hope.”

“A trillion in savings is proof of concept.”

“The speech also identified where the savings will be spent, particularly on transportation, food, and education!”

“I am especially pleased with the comment that the government will intervene where exchange rates may push the cost of imported petroleum products too high,” he said.

Isong regarded it as “a well-conceived and well-written speech.”

“We now need consistent communication and implementation,” he stated.

According to NAN, President Tinubu stated during his nationwide broadcast that the government had saved over a trillion Naira for the past two months.

Tinubu stated that the funds would now be used to benefit “you and your families” in a more direct and beneficial manner.

According to him, he has continuously argued for numerous years that the fuel subsidy must be eliminated.

“This once-beneficial measure had outlived its usefulness.”

“The subsidy costs us trillions of Naira every year.”

“Such a vast sum of money would have been better spent on public transport, healthcare, schools, housing, and even national security,” he continued.