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IPMAN to increase fuel supply, build refineries

The Independent Petroleum Marketers Association of Nigeria’s, IPMAN, said it has entered into partnership with some multi-nationals to assist the Federal Government to make petroleum products available in the country.

IPMAN, in a statement in Abuja, also stated that it hopes to create value in the industry by ensuring it partners with foreign investors to build at least one refinery in the country during the present administration.
Chairman, Board of Trustees of IPMAN, Alhaji Abdulkadir Aminu stated this after the association played host to members of the Nigerian Association of Transport Owners (NARTO) in Abuja.

Aminu also disclosed that the Federal Government has restored the Independent Petroleum Marketers Association of Nigeria’s, IPMAN, rights to petroleum products in all the depots across the country.

He explained that this would boost fuel supply across the country, especially as the association accounts for a large percentage of fuel retail outlets in the country.

According to him, “with this action of the Federal Government, we can take charge in all the petroleum products distribution in all the 21 depots in Nigeria, adding that in no time the crisis of petroleum products scarcity will no longer exist.

He said: “We paid a courtesy call on the Minister of State for Petroleum Resources, being a man who initiated this peace to ensure that IPMAN becomes one. He assured us that now that we have heeded his advice, he is going to, restore all our rights to all the depots in the federation.

“I am sure that by the minister’s intervention in restoring all our rights across all the depots across the federation, I think Nigerians will have better access to products because we control 80 per cent.”

Also speaking, factional National President of IPMAN, Chief Lawson Obasi stated that the association has planned to commence importation of petroleum products to boost the activities of the downstream sector.

He stated that owing to the liberalization of the sale of products, the association has planned to import its own products for onward distribution to its members. He said “as at today because of the liberalization exercise in the petroleum industry, we are working towards importing our own products.

In short, we are on course to importing our products into the country so that we can distribute to our members.”

Obasi also noted that IPMAN has already signed some agreements with some of its foreign partners for product importation, while it plans to establish a modular refinery in Nigeria to ensure that there is adequate supply of petroleum products customers.

He said that the Nigerian National Petroleum Corporation (NNPC) and its subsidiary, the Pipeline Product Marketing Company (PPMC) have given members of IPMAN easy access to petroleum products.

He said, “We don’t have any difficulty accessing petroleum products at the moment because NNPC, PPMC, and the Federal Government are doing their best. So loading it is not a problem. Once products are at the depots getting it is not a problem.”

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