The Impartial Petroleum Entrepreneurs Affiliation of Nigeria has stated that its members can’t afford to buy 45,000 litres of petrol because of the removing of gas subsidy by President Bola Tinubu.
In an interview with The PUNCH, a Nationwide Ex-officio of IPMAN and former Chairman of the affiliation in Ogun State, Surajudeen Bada, disclosed that oil entrepreneurs presently contribute cash to purchase 45,000 litres of petrol and share amongst themselves.
He attributed the lack of particular person entrepreneurs to buy a truck of petrol to the removing of subsidy on the petrol.
He defined that earlier than Could 29, 2023, a forty five,000-litre tanker of petrol used to price beneath N9m.
Recalled that on Could 29, 2023, President Bola Tinubu introduced the top of the petrol subsidy regime throughout this inaugural speech.
Consequently, the pump costs of petrol soared from about N180/litre to N537/litre earlier than leaping to N617/litre on July 17.
In accordance with Bada, a forty five,000-litre truck of petrol that was previously bought for N9m presently prices N27m, which lots of the entrepreneurs couldn’t afford.
Bada, who can also be the chairman of Oil and Gasoline Merchants Affiliation in Ogun State, maintained that the federal government insurance policies had been affecting entrepreneurs negatively.
“Authorities insurance policies are affecting us negatively. As of Could 2023, earlier than the graduation of this administration, a forty five,000-litre truck of petrol was being procured from the depot at above N8m, less than N9m. However the same amount is being procured in the present day at above N27m. You’ll be able to see the distinction. So, a lot of our entrepreneurs, who wouldn’t have the N27m working capital, are actually out of enterprise.
“What we now do is to share the product amongst each other. Usually, a petroleum station is entitled to a truck, however we now take a full truck to about three stations. We share amongst ourselves in order that, not less than, the individuals will see that we’re promoting and the product is obtainable on the town.
“We contribute cash to purchase only one truck as a result of somebody that has N9m and was operating his enterprise earlier than can not purchase half of a truck with that quantity. So, two to a few individuals now come collectively to do this.”