PETROAN ADVOCATES GRANTS OF N100B TO RESCUE RETAIL OUTLET OPERATORS.
Katherine Abayomi
The National Bureau of Statistics shows a percentage of 5.3, which represents that over four million Nigerians are unemployed. President Tinubu’s transformative policies show great hope for Nigeria’s economy in the near future, but not at the moment. It is now economically disastrous for another one million people to join the labor market.
This was made known at the National Headquarters of Petroleum Products Retail Outlet Owners Association of Nigeria (PETROAN), which also raised the alarm of potential 1,000,000 job losses in the next 45 days in Nigeria if the federal government does not urgently intervene.
The group further stated that the existing subsidy has helped to incapacitate these retail outlets, the petroleum products formerly bought (PMS trucks) with the capacity of 45,000liters for seven million Naira, but with the sudden upward review of 500%, it’s now forty-seven million Naira, this has rendered about 10,000 retail outlets owners financial handicapped and incapacitated.
This instability, inconsistency, and financial turbulence in the sector further compounded their challenges, making it difficult to access funds from financial institutions.
Arising from the imminent threat of job losses, the national president of PETROAN, Dr. Billy Gills Harry, has taken proactive measures by calling on the President to consolidate economic transformational programmes by requesting by writing a passionate letter for a grant of N100B (One Hundred Billion Naira) as a way of urgent intervention and a solution to salvage Imminent Job Losses.
While addressing newsmen, Dr Jospeh Obele stated that he had submitted the grant letter to the President and isawaiting approval. He showed evidence of the acknowledged copy.
The PRO PETROAN national further stated that lamentations from members of staff about shutting down or quitting business necessitated this move with their workforce of over one million direct and indirect staff. The sufferings of these retail outlet operators to remain in business and secure the jobs of their over one million staff, noting that it will cause a boom in the sector, which will eventually trigger price reduction and employment of new staff.
Dr. Obele affirmatively stated PETROAN’s stand and willingness to support the economic reforms agenda of the federal government and noted that this grant request is for the benefit of Nigeria’s economy, which is also in line with the projects of the federal government as intervention funds/Grant’s during the COVID-19 pandemic, Aviation sectors, power sector and also the Federal government launch of 200billion presidential Intervention Fund for Mirco, small and Medium scale Enterprise(MSME’S) and Manufactures in Nigeria.
The Petroleum products retail outlets owners Association of Nigeria (PETROAN) calls on the Senate President and all concerned for a timely release of the grant to avert the looming danger .
“The body is calling on the Senate president the speaker house of Rep and the Coordinating Minister of the economic to intervene for the quick release of the grant in view of salvaging the economy “.
