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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
The Lagos State Police Command has restored normalcy in Onosa Community in the Elemoro area of Lagos State, according to a statement made available to the National Association of Online Security News Publishers (NAOSNP).
The statement, signed by the Lagos Command Public Relations Officer, CSP Benjamin Hundeyin, recalled that “In the early hours of today, August 29, 2025, six officers from Elemoro Division while on routine patrol encountered an irate mob. In the course of ensuring their own safety, the officers used their firearms, resulting in three individuals sustaining injuries. The injured persons were taken to hospital for medical attention.”
The statement further observed that “The Commissioner of Police, Lagos State Command, CP Olohundare Jimoh, promptly responded to the incident by personally leading a detachment of officers to the scene. The swift intervention led to the removal of all barricades, restoring the free flow of traffic in the affected area. CP Jimoh also moved deep into the community and engaged with youth and community leaders in the neighborhood to de-escalate tensions and foster understanding. He has further extended an invitation to these leaders for continued dialogue to address concerns and prevent future occurrences.
“The officers involved in the shooting have been taken into custody as investigations into the incident commence. The Lagos State Police Command is committed to a thorough and transparent inquiry to establish the facts surrounding the event.
“Normalcy has been restored to the area, and significant police presence remains in place to ensure the sustenance of the restored peace and order. The Command urges residents to remain calm, cooperate with law enforcement, and refrain from actions that could disrupt public safety.”
Hundeyin assured members of the public that further updates will be provided as the investigations progress.
Former Nigerian leaders, Chief Olusegun Obasanjo and General Ibrahim Badamasi Babangida (IBB), have expressed deep sorrow over the death of former President Muhammadu Buhari, who passed away on Sunday in London.
In separate condolence statements, the elder statesmen paid glowing tributes to the late Nigerian leader, describing him as a patriot who served the country with distinction as a soldier, administrator, and statesman.
Obasanjo, through a statement issued in Abeokuta, Ogun State, noted that Buhari played his role dutifully throughout his life and gave his best to the country.
“It is with a heavy heart that I received this afternoon the passing to glory of a colleague, a comrade, a co-patriot, General Muhammadu Buhari,” Obasanjo said.
“As a soldier, he played his role; as an administrator, he played his role; as a statesman, he played his role.”
He added that Buhari’s death comes at a critical time when Nigeria needed the wisdom and experience of leaders who have previously steered the country through difficult times.
“He will be sorely missed. May his soul rest in perfect peace,” Obasanjo added.
Babangida described Buhari as a brother, course mate, and fellow patriot whose life was defined by discipline, humility, and unwavering loyalty to Nigeria.
In a personal tribute, Babangida recalled their shared history that began in 1962 at the Nigerian Military Training College in Kaduna, noting that Buhari stood out early as a principled and deeply patriotic officer.
“Through the years, we shared trenches and trials, dreams and disappointments, victories and moments of reflection,” IBB said.
“Our bond was forged not only by military training but by a shared commitment to service and love for country.”
He acknowledged that while they may have held differing views at times, Buhari’s sincerity and patriotism were never in doubt.
“His passing today is not just the loss of a former Head of State or two-term civilian President—it is the loss of a symbol. He embodied the transition from the old guard to the new republic,” Babangida stated.
He prayed for Allah’s forgiveness for the late leader and extended condolences to his wife, Aisha Buhari, their children and grandchildren, as well as the entire nation.
“May his legacy endure, and may Allah (SWT) grant him Aljannatul Firdaus,” he concluded.
Veteran journalist and chieftain of the Peoples Democratic Party (PDP), Bashorun Dele Momodu, has reaffirmed his unwavering support for former Vice President Atiku Abubakar to emerge as the presidential candidate of the opposition coalition under the African Democratic Congress (ADC) for the 2027 elections.
Speaking on Channels Television’s ‘Politics Today’ on Monday evening, Momodu emphasised that while he stands with Atiku, he respects the right of other political supporters, including the Obi-dients to back their own candidates, particularly Labour Party’s Peter Obi.
“My best choice is Atiku, and that is what I expect Obi-dients to say, which I expect those who support Amaechi to say — there’s nothing wrong with that,” Momodu stated.
“I have never asked anyone not to support Obi. Obi is my very good friend. If you asked me about one of the people who should lead the coalition, I would say it should be Obi. But as a democrat, I’m appealing to them, hoping they will be able to do it democratically so that they will not say it was forced upon them.”
Momodu’s comments came amid heated debates surrounding who should lead the ADC-backed coalition ahead of the 2027 presidential election. He stressed that all aspirants, including Obi and former Transportation Minister, Rotimi Amaechi, should face the test of popularity through a democratic process.
