… NNPCL Throws Support As OGSPAM Calls For Calm
Sodiq Mojibola
The declaration made by President Bola Ahmed Tinubu on removal of fuel subsidy has triggered fuel queues in some parts of the country .
The President had hinted that one of his major moves would be removal of subsidy on petroleum products as there was no provision for subsidy in the national budget from June 2023.
PLATFORM TIMES observed that few minutes after the president declared that subsidy is gone, owners of filling stations raised the pump price while others shut the gates to the motorists.
This development created artificial panic buying and confusion among the motorists and commuters .
PLATFORM TIMES gathered that
fuel queues resurfaced in the nation’s Federal Capital Territory (FCT) Ondo, Ogun and Lagos states among others .
A survey of filling stations in Abuja, Ogun, Lagos and Ondo states revealed that some filling stations were not selling because they were out of product.
While others stopped selling due to the declaration , others increased the pump price .
In Abeokuta , Ogun state capital, few stations that were selling have jerked up the price to N250 per litre .
At Fatgbems filling station at Kuto raised the pump price from N195 to N250 and later stopped selling the products .
Most of the motorists lamented that the development is just too early and called for the review of the subsidy removal.
The motorists expressed fear that the removal of the subsidy will add to the economic hardship being experienced in the country.
Meanwhile, the Nigerian National Petroleum Company Limited (NNPCL) has welcomed the pronouncement of President Bola Tinubu on the removal of fuel subsidy.
Responding in an emergency press conference at the NNPC Towers, Abuja, NNPCL told Nigerians that the move was in the best interest of the company.
According to the GCEO of the company, Mele Kyari, the company has been spending a substantial amount of its profits in the subsidy of the product
Kyari however said there was no need for panic buying as fuel queues had been noticed in some areas of the FCT.
He noted that the company had enough product to supply the country for the next 30 days, adding that it was monitoring its supply and distribution networks around the country.
The Ogun State Park Management (OGSPAM) has urged commuters to endure and trust the process of the new administration of Tinubu Presidency.
Chairman of the Abeokuta South 2, Comrade Olalekan Adebayo made this plea with the transporters and commuters on Monday following the declaration of Fuel Subsidy Removal by President Tinubu.
Adebayo who spoke with PLATFORM TIMES harped on the need to endure and trust the process, expressing his confidence in the Tinubu’s administration towards improving the economic growth of the country.
The branch chairman who added that he understood the hardship that may follow the removal of subsidy said he trust that Tinubu would do something to fix the Nigeria refineries.
Adebayo stated that removal of fuel s aidy would imply an increase in price of fuel and an eventual scarcity, he said however, “this will still work in our favour if we can endure it for some time”.
“I am sure that if we can endure this subsidy removal for a year, we will soon be set to enjoy the dividends of our patience,” Adebayo continued.
“Dangote Refinery will soon commence operation in three months. We have about three refinaries in the country that are not in operation, but I trust President Tinubu to do what is right by fixing them so that they can work alongside the Dangote refinery.
“If Dangote can build a refinery with $18bn and Nigeria has been spending billions annually on subsidy, then there’s no point continuing with it. Let’s endure and trust the process, it can only get better.”
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