DAPPMAN Advocates for Alternative Energy Sources, Seeks Reduction in Taxes

DAPPMAN advocates for alternative energy sources, seeks reduction in taxes. DAPPMAN met with President Tinubu on June 7, presenting demands to ease business in Nigeria’s oil market and support deregulation. Anticipating reduced dependence on fossil fuels, DAPPMAN aims for increased investment in gas and electricity development.

The Depots and Petroleum Products Marketers Association of Nigeria (DAPPMAN) held a consequential meeting with President Tinubu on June 7, focusing on key reforms that could unlock business potential in Nigeria’s oil market.

DAPPMAN is passionately advocating for the deregulation of fuel, fully aware of the ensuing challenges and is committing unwavering support to the administration’s relief efforts for Nigerians.

This strategic move anticipates a reduction in the reliance on fossil fuels, spurring investment, and accelerating the development of gas and electricity as alternative energy sources.

DAPPMAN’s Meeting with President Tinubu

The association urged President Tinubu to scrap, reduce, and suspend some charges and levies to establish market stability.

The proposal was made during the June 7 meeting, where the association’s chairperson, Dame Winifred Akpani, who also serves as the CEO of Northwest Petroleum and Gas Company Limited, tabled some critical demands to the president.

Reduction in Taxes and Other Demands

The key points raised by DAPPMAN included a reduction in all dues and levies to government agencies, particularly NPA PLC and NIMASA, to the barest minimum and making them payable in Naira.

This significant move will alleviate the pressure on the country’s foreign exchange rate and reserves, ultimately controlling the pump price of petrol.

The association also requested the regulator, NMDPRA, to suspend all charges and taxes mentioned in the PIA 2021 until market stability is attained in the country.

Furthermore, they proposed the abolition of the 2.5% security deposit requested by NNPC Limited for all purchases, citing it as a burden on marketers.

A revision of the clause in the Petroleum Industry Act 2021 that limits importation to companies with active local refining licenses and/or proven track records of international crude oil and petroleum products trading was also on the table.

DAPPMAN’s Stance on Deregulation of Fuel

DAPPMAN fully supports the move towards deregulating fuel.

They acknowledge the challenges ahead and pledge their full commitment to the administration as it eases the burden on Nigerians.

They noted a lack of understanding and perceived opacity in the reallocation of savings from withdrawn benefits like subsidy removal.

To address this, they vowed to intensify public enlightenment efforts and ensure efficient cost management to deliver value through competitive pump prices.

Promising A Robust Petroleum Industry

Speaking on behalf of DAPPMAN, Dame Akpani said, “We promise to foster a robust petroleum industry that ensures an adequate supply of petroleum products at highly competitive prices.

Nigerians will no longer suffer in petrol queues.

With our years of experience in trading and distributing petroleum products, we’ll ensure efficiency in sourcing and delivery.

The forces of demand and supply will naturally encourage competition and efficiency, preventing price gouging.

We’re looking forward to a reduced dependence on fossil fuels, resulting in increased investment and faster development in gas and electricity as alternative energy sources.”

Alternatives to Fuel: DAPPMAN’s Plan

In the press briefing following the meeting with President Tinubu on June 7, Dame Akpani outlined plans to introduce alternatives to fuel.

She emphasized the use of natural gas for vehicles in the short term to reduce fuel dependency.

The association plans to provide 100 units of CNG/diesel-powered, 50-seater buses for the most vulnerable citizens.

We will provide dual-fuel mass transit buses, running on compressed natural gas and diesel, initially starting with 50 to 100 buses in the near future. These are locally produced,so we’re also creating jobs, reducing pressure on our foreign exchange, and providing more employment for Nigerians,” she said.

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Frequently Asked Questions

What are the demands DAPPMAN presented to President Tinubu?

DAPPMAN asked for the reduction in all dues and levies to government agencies, suspension of all charges and taxes imposed by the regulator, scrapping of the 2.5% security deposit requested by NNPC Limited, and a revision of a clause in the Petroleum Industry Act 2021.

How does DAPPMAN plan to offer relief to Nigerians?

DAPPMAN aims to provide efficient and competitive pump prices, reduce dependence on fossil fuels, and increase jobs by advocating for locally produced alternatives like CNG/diesel-powered buses.

What does the deregulation of fuel mean?

Deregulation means removing government regulations to allow market forces of supply and demand to dictate fuel prices, resulting in competition and potential reduction in costs for consumers.

What is DAPPMAN’s plan for alternative energy sources?

DAPPMAN aims to promote the use of gas and electricity as alternative energy sources, reducing dependence on fossil fuels, and thereby contributing to environmental conservation.

Who is Dame Winifred Akpani?

Dame Winifred Akpani is the Chairperson of DAPPMAN and the CEO of Northwest Petroleum and Gas Company Limited. She played a key role in presenting the demands of the association to President Tinubu.

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