The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and oil marketers have urged Nigerians not to panic regarding the announcement of the removal of subsidy on Premium Motor Spirit (PMS) by President Bola Ahmed Tinubu.
The oil regulator said in a statement that it is working
with the Nigerian National Petroleum Company Limited and other key stakeholders
to guarantee a smooth transition, avoid supply disruptions, and ensure that
consumers are not short-changed in any form.
“Contrary to speculations and concerns, the announcement is
in line with the Petroleum Industry Act (2021) which provides for total
deregulation of the petroleum downstream sector to drive investment and
growth,” the statement said.
The Authority assures that there is an ample supply of
petrol to meet demand as it has taken necessary steps to ensure distribution
channels remain uninterrupted and fuel is readily available at all filling
stations across the country.
“Therefore, we call on Nigerians to remain calm and resist
the urge to stockpile as it poses a significant safety hazard. In the same
vein, Operators are advised to refrain from hoarding petrol and causing
hardship,” it said.
In a joint statement issued by the Major Oil Marketers
Association of Nigeria (MOMAN) and Depot and Petroleum Marketers Association of
Nigeria (DAPPMAN) they appreciated the clarity of policy from the Tinubu
administration, a direction that signals a courageous and pragmatic shift in
our nation’s economic trajectory while calling for calm.
“In light of the assurance given by the Nigerian National
Petroleum Company Limited (NNPCL) and the Nigerian Midstream and Downstream
Petroleum Regulatory Authority (NMDPRA), we wish to reiterate that there is no
cause for alarm,” the statement read in part.
“We strongly urge Nigerians to avoid panic buying or
stockpiling of petrol. This behaviour not only creates artificial scarcity but
also poses a significant safety hazard.”
According to the oil marketers, the NNPCL has assured
Nigerians of adequate fuel supply and the NMDPRA is working closely with
stakeholders to ensure a seamless transition.
“They are ensuring distribution channels remain uninterrupted,
thereby making fuel readily available at all filling stations across the
country,” it read. “The decision to phase out this fuel subsidy regime is not
merely a fiscal reform; it is a significant stride toward social justice.”
The oil marketers expressed gratitude 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.
“We understand the concerns regarding potential price
increases. However, we expect marketers to maintain reasonable pricing, as
NNPCL remains the sole supplier of the product currently,” the Joint statement
read.
The oil marketers said they anticipate minimal changes
regarding distribution costs, considering the cost of the product constitutes
80 percent of the pump price and pledged to manage these distribution costs
diligently to minimize the impact on the pump price in collaboration with the
Nigerian Association of Road Transport Owners (NARTO) and other crucial
stakeholders,
“Considering this clarity of policy, we ask our suppliers to
continue supplying products to all legitimate marketers. We also urge all
stations to remain open and avoid hoarding products.
“And we eagerly await the day when the Dangote Petroleum
Refinery, as well as other licensed importers, join the current supplier in a
bid to diversify the source of petroleum products and enhance market
competition,” the statement read.
MOMAN and DAPPMAN said they will maintain an open dialogue
with the Federal Government, advocating for stability in the oil sector during
this transitional period. According to the statement, they are prepared to
support any measures from the Government that would help cushion the impact on
the populace.
0 comments:
Post a Comment