The Independent Petroleum Marketers Association of Nigeria (IPMAN) has expressed concerns that proposed tariff increases on petroleum products could derail the success of the country’s ongoing subsidy removal policy.
In a statement on Tuesday, IPMAN President Debo Ahmed cautioned against further burdening the downstream oil sector with additional tariffs. He argued that such increases, on top of the already rising fuel costs, could have a “negative domino effect” on the industry’s overall business climate.
According to the IPMAN president, the ‘arbitrary and exorbitant nature’ of the increases burdens existing businesses and discourages new investors while also creating obstacles in the way of their entry
