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IPMAN Rejects Tinubu’s Subsidy Removal Plan

The Independent Petroleum Marketers Association of Nigeria has opposed the plan by President Bola Tinubu to enforce his predecessor’s decision to remove fuel subsidy by June ending.
Tinubu had earlier on Monday, in Abuja, affirmed that his administration would not continue to pay subsidy on petroleum products.
He said given the high opportunity cost the Federal Government was suffering to fund subsidies, it was no longer justifiable to continue.
“The fuel subsidy is gone!” Tinubu exclaimed during his inaugural address at Eagle Square, Abuja, shortly after he was sworn-in as the 16th President of Nigeria.
The President said “Subsidy can no longer justify its ever-increasing costs in the wake of drying resources. We shall instead re-channel the funds into better investment in public infrastructure, education, health care and jobs that will materially improve the lives of millions.
“We commend the decision of the outgoing administration in phasing out the petrol subsidy regime which has increasingly favoured the rich more than the poor.”
Tinubu said since there was no provision for subsidy in the budget from June 2023, and it stands removed.
On his economic agenda for the next four years, Tinubu said his administration would target a minimum annual GDP growth of six per cent. To do this, the new government will enact budgetary and tax reforms that will boost the economy and address multiple taxation that stymies foreign direct investment.
“On the economy, we target a higher GDP growth and to significantly reduce unemployment. We intend to accomplish this by taking the following steps: First, budgetary reform stimulating the economy without engendering inflation will be instituted.
“Second, industrial policy will utilize the full range of fiscal measures to promote domestic manufacturing and lessen import dependency.
“Third, electricity will become more accessible and affordable to businesses and homes alike. Power generation should nearly double and transmission and distribution networks improved. We will encourage states to develop local sources as well.”
To foreign and local investors, he said “Our government shall review all their complaints about multiple taxation and various anti-investment inhibitions. We shall ensure that investors and foreign businesses repatriate their hard-earned dividends and profits home.”
However, reacting on Monday, IPMAN said it was opposed to the new president’s subsidy removal plan
The National Public Relations Officer, Independent Petroleum Marketers Association of Nigeria, Chief Ukadike Chinedu, said the new government should dialogue with marketers before taking the decision to remove subsidy.
“We are not in support of the removal of fuel subsidy at this time. We have said it repeatedly that our refineries should be fixed before taking such decision that will cause galloping inflation and inflict more hardship on the masses.
“The government of President Tinubu should not adopt what is in the transition document handed over to it by the administration of former President Muhammadu Buhari. Someone (Buhari) who for eight years did not remove subsidy is advising a new government to remove it.
“That is not fair and should not be adopted. Rather the new government should sit and discuss with marketers and other stakeholders on how to manage the fuel subsidy regime. We now have the Dangote Refinery, but all our refineries are still not working, so we don’t think removing subsidy is the right thing to do now,” Ukadike stated.
He said IPMAN was ready to work with the new government and would proffer measures to address the fuel subsidy regime, instead of effecting an outright halt in subsidy.
When contacted to state their position on the issue, the Petroleum and Natural Gas Senior Staff Association of Nigeria stated that it would not comment on the development now, as it was currently studying the new administration.
“We wouldn’t want to comment on the fuel subsidy removal matter now because we are still studying the situation and the new government of President Tinubu,” the General Secretary, PENGASSAN, Lumumba Okugbawa, stated.
While IPMAN insisted that subsidy should not be removed without the repairs of Nigeria’s refineries, the Major Oil Marketers Association of Nigeria maintained its position that fuel subsidy should stop.
The Executive Secretary, MOMAN, Clement Isong, said Nigeria was burning its earnings by paying trillions as subsidy on petrol.
“Currently, we are told that this year that we are to spend about N6tn on subsidy. I am sure that in our hearts we all know that if we invested that N6tn in sustainable programmes, it will grow the economy. It is a better way to go than to burn it in fuel subsidy. We all know this,” he stated.
The Punch
Featured
Boko Haram Among Terror Groups Funded by USAID, Says US Congressman, Perry

US Congressman, Scott Perry, has said that US aid agency, United States Agency for International Development, funded terrorist organisations, including Boko Haram.
Perry, a Republican representing Pennsylvania, made the claim during the inaugural hearing of the Subcommittee on Delivering on Government Efficiency on Thursday.
The session, titled “The War on Waste: Stamping Out the Scourge of Improper Payments and Fraud,” focused on alleged misappropriations of taxpayer funds.
“Who gets some of that money? Does that name ring a bell to anybody in the room? Because your money, your money, $697 million annually, plus the shipments of cash funds in Madrasas, ISIS, Al-Qaeda, Boko Haram, ISIS Khorasan, terrorist training camps. That’s what it’s funding,” Perry said.
According to the subcommittee’s website, it will “actively work with President Trump’s Department of Government Efficiency to root out waste, shore up vulnerable payment systems, and fully investigate schemes to defraud taxpayers.”
Perry further cited USAID’s reported funding of $136 million for building 120 schools in Pakistan, alleging that there was “zero evidence” of the schools’ construction.
Perry added, ” If you think that the programme under Operation Enduring Sentinel entitled Women’s Scholarship Endowment, which receives $60 million annually, or the Young Women Lead, which gets about $5 million annually, is going to women who, by the way, if you read the Inspector General’s report, is telling you that the Taliban does not
allow women to speak in public, yet somehow you’re believing, and American people are supposed to believe, that this money is going for the betterment of the women in Afghanistan. It is not.
“You are funding terrorism, and it’s coming through USAID. And it’s not just Afghanistan, because Pakistan’s right next door.
“USAID spent $840 million in the last year, the last 20 years, on Pakistan’s education-related programme. It includes $136 million to build 120 schools, of which there is zero evidence that any of them were built. Why would there be any evidence? The Inspector General can’t get in to see them.
“But you know what? We doubled down and spent $20 million from USAID to create educational television programs for children unable to attend the physical school. Yeah, they can’t attend it, because it doesn’t exist. You paid for it.
“Somebody else got the money. You are paying for terrorism. This has got to end.”
US President Donald Trump has previously called for the closure of USAID, accusing the agency of corruption in a post on his Truth Social platform.
The move is part of Trump’s–and his billionaire ally Elon Musk’s–drive to shrink the US government.
Musk, whom Trump appointed to lead the Department of Government Efficiency, has also criticised USAID, alleging that it engages in rogue operations.
Musk has called USAID “a viper’s nest of radical-left Marxists who hate America” and has vowed to shut it down.
Among other criticisms, which Musk has claimed that USAID does “rogue CIA work” and even “funded bioweapon research, including COVID-19, that killed millions of people.”
Trump said DOGE would “dismantle government bureaucracy, slash excessive regulations, cut wasteful expenditures, and restructure federal agencies — essential to the ‘Save America’ movement. This will send shockwaves through the system, and anyone involved in government waste, which is a lot of people!”
Featured
CDS Visa Denial: No Comments, Canadian Embassy Declares

The Canadian High Commission in Nigeria has refused to make further comments on circumstances surrounding the denial of visas to some senior Nigerian military officials, including the Chief of Defence Staff, General Christopher Musa, citing privacy policies.
The Authorities however, acknowledged social media reports of the situation.
Musa and some military officials were denied visas to attend an event in Canada honouring war veterans, a situation the CDS revealed during an event in Abuja on Thursday.
Responding on Friday, via its social media handle, the Canadian High Commission stated, “The High Commission of Canada in Nigeria is aware of media reports related to planned travel by senior officials. However, for privacy reasons, we are unable to comment on the status of visa applications of specific individuals.”
Featured
Afenifere Leader, Pa Ayo Adebanjo Dies at 96

Pa Ayo Adebanjo, the Afenifere leader, is dead.
He died on Friday morning at his Lekki residence in Lagos, according to a family statement. He was aged 96.
It reads: “With a heart full of gratitude for a selfless life spent in the service of God, the nation and humanity, we announce the passing on of our beloved patriarch, Chief Samuel Ayodele Adebanjo.
“He died peacefully this morning, Friday, February 14, 2025 at his Lekki, Lagos Nigeria home at the age of 96.
“The foremost nationalist, elder statesman, distinguished lawyer, very distinct politician, apostle of true federalism, former organising secretary of Action Group and the national leader of Afenifere is survived by his 94 year-old wife, Chief Christy Ayo-Adebanjo, children, grandchildren and great grandchildren.
“We will forever cherish his commitment to fighting for truth, equity and justice. His belief and struggle for a truly independent and progressive Nigeria was total and this he fought for until he breathed his last breath.
“The family is consulting with Papa’s friends, associates, numerous interest groups across the length and breadth of Nigeria and beyond, to fine tune plans for a befitting funeral details which will be communicated in due course.
“A condolence register is open at his residence in Lagos (8, Ayo Adebanjo Close, Lekki Phase 1, Lagos) and his country home in Isanya Ogbo, near Ijebu Ode Ogun State.”
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