When asked what the transition plan should look like, Oyananji said foreign exchange should have been released to marketers to enable them get petrol six or eight weeks before subsidies would be removed.
He explained, “Being proactive about planning is what is required here. We have to order products at most six weeks ahead of the removal. Because, it should not be that subsidy removal will be announced today, and then the market will be at a standstill. The worst thing that could happen would be announcing removal and then no product on ground to sell to consumers. Then, it means the scarcity would be worse than we have ever had. As we speak, we are all in the dark.
Also speaking, Executive Secretary of the association, Clement Isong, advised the incoming government to keep up and improve on the level of interaction with oil marketers. “We are happy that the incoming government of Bola Tinubu, as we were told, has some experience in the downstream sector which we believe would be deployed in the right way in relating and dealing with issues,” he said.All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from PUNCH.