The President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Alhaji Abubakar Migandi Garima, announced plans to construct modular refineries in Lagos and Cross River states.
During a live program on AriseNews TV on Thursday, Garima explained that the government’s removal of the fuel subsidy prompted the association’s decision to undertake this refinery project.
He said, “All what they have been saying that there is no subsidy and still they are saving that amount of money of subsidy. So I think the journey is OK and we too Independent Petroleum Marketers are making a plan, we are even pushing to see that our own refinery has come to reality.
“We are planning in two places. There is one in Lagos that we have already secured the land. Aggie refinery is there.”
“So we are all putting all our efforts to see that we too at least we started something.
“Since the removal of subsidy is ongoing and Dangote refinery is expected to start functioning very soon. And this Port Harcourt refinery, we’re expecting to start soon. It’s a modular refinery,” he added.
Garima commented on the proposed IPMAN modular refineries against the backdrop of speculation that both the Nigerian Government and the Nigerian National Petroleum Company Limited were contemplating raising the fuel pump price to N1,200 per litre.
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SaharaReporters previously highlighted how this speculation sparked widespread concern among Nigerian netizens on X (formerly Twitter). Many expressed apprehension about the potential escalation in the pump price of petrol, fearing it would exacerbate economic challenges.
A user on X, Stes_Giddy, voiced concern that any additional increase in fuel prices under President Bola Tinubu’s administration would negatively impact the country’s small-scale economic sector.
He said, “Guy why you dey go far? 200k ke? There are sales girls and boys who earn less than 50k and they pay rent and transport to the island every day. What of business owners, I sell Chandeliers, I have to run gen from morning to night to display samples to customers.”
Nick’s Pizza said that setting the pump price at N1,200 should be viewed as a lack of empathy from the government, especially given the challenges Nigerians are presently enduring to make ends meet.
He said, “You even mentioned 200k, it’s only about 40% (according to stats) who earn that amount or close in this country. A lot of people and family men earn less than that in a month. How does the government expect them to survive.”
“If NNPC can’t manage the petroleum affair of the nation, can they just scrap them off or just privatise the ministry so those who have something to offer can take over? Wtf is fuel 1200 in 2024? Do this people really understand the level of hardship Nigerians are going through,” another user, Omotayo said.