The Independent Petroleum Marketers Association of Nigeria (IPMAN) has backed the Federal Government’s plan to remove subsidy on Premium Motor Spirit (PMS), also known as petrol by 2021.

IPMAN’s President, Mr Chinedu Okoronkwo, told the News Agency of Nigeria (NAN) on Friday in Lagos that the Petroleum Industry Act (PIA) signed into law by President Muhammadu Buhari on Aug. 16 had no provision for subsidy.

NAN reports that the Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, had announced that the government would remove fuel subsidy and replace it with a monthly N5,000 transport grant to about 40 million poor Nigerians.



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