The Independent Petroleum Marketers Association of Nigeria (IPMAN) has noted that getting direct supply of petrol from the Dangote Refinery will help reduce pump price of the product across the country, and therefore ease pressure on consumers.
The National President of IPMAN, Abubakar Shettima, stated this on Thursday at a press briefing held at the association’s secretariat in Abuja.
He said the association, which plays a major role in the downstream oil and gas sector, has pledged its full support for the Dangote Refinery, describing it as a vital national asset that arrived at a critical moment in Nigeria’s economic history.
According to him, direct product supply to IPMAN from the refinery would eliminate middlemen, improve nationwide distribution, and lower transportation costs – factors that have contributed to higher fuel prices in the past.
Shettima also reaffirmed IPMAN’s commitment to President Bola Tinubu’s Renewed Hope Agenda and commended the government’s decision to remove fuel subsidy, saying the policy had opened up new investment opportunities in the energy sector.
He lauded the management of the Nigerian National Petroleum Company Limited (NNPC Ltd), led by Engr. Bayo Ojulari, for initiating repayment of debts owed to IPMAN members and for improving relations with the association in recent months.
However, he criticised the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) for failing to settle debts inherited from the defunct Petroleum Equalisation Fund (PEF) despite several engagements over the years.
The IPMAN boss urged the Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, to intervene in the matter, warning that further delays could force marketers to take drastic action.
He also called for unity among members of the association, stressing that IPMAN must operate as one family to take advantage of emerging opportunities across the oil and gas value chain.
“Today as the National President of IPMAN, I would like to state firmly and again that we have fully thrown our support behind the Dangote Refinery.
“We believe the Dangote Refinery came at the most critical time in our nation’s history, and it befits every stakeholder to work towards ensuring its success. However, we would like to appeal for direct supply of PMS from the Dangote Refinery. We sincerely believe that getting PMS products from the Dangote Refinery directly will positively impact the economic situation of Nigeria through decreased pump price of the product nationwide.
“IPMAN would also like to appreciate the new management of the NNPC Limited for their prompt response and ongoing payment of their longstanding debt owed to our members.
“The new NNPC Limited management under Engr. Bayo Ojulari has shown true assurance towards collaborating with our association, and we are convinced that as IPMAN, we are also eager to further engage the NNPC Limited in directly getting PMS products from them.
“We believe that the enduring relationship between IPMAN and the NNPC Limited, which has become very cordial in recent months, is a testament to the brilliant appointment of extremely capable executives at the nation’s number one oil and gas firm.
“It is nevertheless, sad to note that the NMDPRA has yet refused to heed its promise to offset the debt owed our members from the defunct Petroleum Equalisation Fund (PEF). “It is no longer news that we have patiently engaged the management of the NMDPRA for over three years in order for them to offset this debt. In our last ultimatum, we were pressured by highly placed Nigerians to call off our threats to embark on a strike, after which the NMDPRA promised to clear the backlog in a short period.
“However, up till this moment, the majority of our members are yet to receive their payments. Consequently, I am calling on the Honourable Minister of State for Petroleum Resources (Oil), Mr. Heineken Lokpobiri, to kindly intervene and direct the NMDPRA to clear these long-overdue debts, as any delayed failure may leave us with no further option.
“I would like to seize this opportunity to call on every member of IPMAN to once again retract their swords and work as one, under a single umbrella, in order that we may move forward with speed and singleness of purpose.
“Under the new policies of Pres. Bola Ahmed Tinubu, it has become abundantly clear that we can no longer concentrate on the downstream sector; the opportunities in the upstream and the midstream have become enormous, but we can only tap into these opportunities when we unite.”
- Media Report