Atiku Abubakar Backs IPMAN's Call to Lower Petrol Prices

Former Vice President Atiku Abubakar welcomed the Independent Petroleum Marketers Association of Nigeria (IPMAN)'s call for government intervention to reduce petrol prices. In a statement released on Thursday through his Senior Special Assistant on Public Communication, Phrank Shaibu, Atiku noted that IPMAN's position aligns with his proposal to make energy affordable by supporting domestic refining.

He emphasized that IPMAN's insights are crucial as they represent operators who directly experience the effects of fuel prices on businesses and households. Atiku differentiated between past import-based subsidy regimes and a production-linked intervention aimed at enhancing local refining capacity.

He stated that Nigeria should maximize its crude oil processing domestically to ensure affordable fuel for consumers, aligning with the objectives of the Petroleum Industry Act. He cited the DailyFuels Fuel Affordability Index, highlighting that the average Nigerian needs about 44 minutes of work to afford one litre of petrol.

Atiku invited IPMAN to collaborate on policy implementation from 2027, leveraging their market knowledge and experience.