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IPMAN Blames President Tinubu For Inducing Fuel Scarcity, Panic-buying Due To Statement

Prolonged Fuel Scarcity Causing Confusion In Oil Sector- IPMAN 

According to the Independent Petroleum Marketers Association of Nigeria (IPMAN), panic buying by Nigerians is to blame for the country’s queues’ reappearance in some areas.

Following President Bola Tinubu’s announcement that the petrol subsidy will be discontinued, MDB has previously reported that lines for petrol have returned in several areas of the nation.

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In Lagos, Ogun, and Abuja, it was noted that some gas stations were closed while long lines of people were waiting to purchase the product at those that did.

In response to the situation, Mike Osatuyi, national operations controller of IPMAN, revealed to the media that the reflexive action of customers who wanted to stock up on cheap petrol before the price of the product increased was to blame for the unprecedented level of queues.

He said;

The queue has to do with the announcement made by the president. People want to refill their tanks so that they can buy it at a good price before the price increases.

Now that subsidy has gone, it has gone for life. And now, there is fairness for Nigeria as a country. Some marketers are the beneficiaries of the subsidy, including smugglers.

But as the president has said, whatever the gain on the subsidy is, it will be used for infrastructure. Now that they (the new administration) want to have a unified foreign exchange, everyone can buy and import on the same platform.


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