The Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) has fully supported President Bola Tinubu’s administration in sustaining the removal of petrol subsidy since its inauguration on May 29. In a show of tangible support, DAPPMAN has pledged to donate Compressed Natural Gas (CNG) compliant buses worth an estimated N10 billion to bolster Nigeria’s mass transportation network.
Chairman of DAPPMAN, Mrs Winifred Akpani, made this announcement during a courtesy visit to President Tinubu at the State House in Abuja. Akpani, who is also the Managing Director of Northwest Petroleum and Gas Company Limited, commended President Tinubu for his courage and boldness in implementing the subsidy removal.
Akpani stated, “That is borne out of the fact that we have desired, we have prayed for this day to come, and we’re happy that the day is finally here.” She further pledged to provide real mass transit buses that can operate on both compressed natural gas (CNG) and diesel interchangeably, starting with approximately 50-100 buses in a short period.
The DAPPMAN initiative aims to create employment opportunities for Nigerians, as the buses will be locally produced. Akpani emphasized, “These are locally produced vehicles, so we are also providing jobs because we are using local assembly plants; we are not importing the buses, and that is less pressure on our foreign exchange and more jobs for Nigerians.”
Governor Dapo Abiodun of Ogun state confirmed that each of the buses would cost N100 million and would be 50-seater buses. He commended the petroleum marketers for their support of the petrol deregulation policy, stating, “I believe this singular step demonstrates the fact that they have keyed into this administration’s very laudable policy and they are in support of deregulation.”
Governor Abiodun called on other members of the organized private sector, such as the Bankers Committee, to follow suit and contribute more to alleviate the impact of subsidy removal on Nigerians.
The delegation accompanying Mrs Winifred Akpani included AbdulWasiu Sowami, Chairman of Ardova Plc and representative of the Major Oil Marketers Association of Nigeria (MOMAN); Suresh Kumar, Managing Director of NIPCO P; Dr Gabriel Ogbechie, Group Managing Director of Rainoil Limited; and Chris Igwe, the Financial Secretary of DAPPMAN and Managing Director of Mainland Oil and Gas Limited.
The gesture by DAPPMAN signifies a strong endorsement of President Tinubu’s policy direction and showcases the association’s commitment to supporting the government’s efforts to drive economic growth and development in Nigeria.
