x

IPMAN: Allow investors to run Nigerian refinerie

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has advised the Federal Government to allow investors to take over the running of the country’s three refineries.

Alhaji Danladi Pasali, National Secretary of IPMAN, stated this in an interview with the News Agency of Nigeria (NAN) on Wednesday in Abuja.

He spoke while reacting to a report that the pump price of petrol might likely get to N190 per litre and the price of crude oil hit 60 dollars per barrel in the international market.

Speaking at the official launch of Nigerian Upstream Cost Optimisation Programme in Abuja, Minister State for Petroleum Resources, Chief Timipre Sylva said with no provision of subsidy in the 2021 budget, the Nigerian National Petroleum Corporation, cannot continue to bear the cost of under-recovery.

At present, the pump price of petrol ranges from N160 –N165, the price band set when crude traded just above 43 dollars per barrel four months ago.

Pasali, commending government’s efforts, said that IPMAN controlled 80 per cent of the downstream sectors.

“IPMAN controls 80 per cent of the downstream sectors of the industry and with our investments running into trillion, the government should give us the three refineries.

“We can run it successfully in collaboration with our foreign investors,” he said.

Pasali said that allowing investors to take over would help in making the government’s job easy and improve the economic development.

He said increasing petrol price, for now, was not a good thing, as the economic index shows that the county was in economic hardship.

“The capacity of people buying the products is low now compared to before, for example, some people buy petrol of N1,500 for their cars but it was not like that in the past.”

Pasali also advised the government to call for stakeholders’ meeting to help solve the problem.

“We can look at other means because there are so many things in the oil template, for example, to see how we can reduce the tension.

“There are so many charges in the template like the unnecessary marine charges that can be reduced and it can help reduce the tension, among other suggestions

Hot this week

Editors Urge Government To Create Safe, Enabling Environment For Journalists

· Ask security agents to find missing Vanguard journalistAs...

EXCLUSIVE: Buhari orders probe of Isa Funtua, AMCON over keystone and Etisalat

Following the controversy generated by the leading opposition party,...

6 Signs your boyfriend thinks you are ugly -Take note of No. 2

They say there are three kinds of people; the...

2023: South-East, Middle Belt Forum Endorses Peter Obi

The South-East and Middle Belt Forum has endorsed the...

Zazzaga Congratulates Tsenyil on NCDC Appointmen

By Israel Adamu, Jos The North-Central All Progressives Congress, APC,...

Dr Olawepo-Hashim Visits Gov. Mutfwang Ahead of Worship Convention

By Isreal Adamu, Jos Frontline politician, businessman, and former presidential...

Oil Cabal Behind Smear Campaign Against Mele Kyari- Coalition Alleges

… Say Its A Plot to Undermine Tinubu’s Administration...

Delta Speaker assures of high premium on Assembly staff

By Anne AzukaSpeaker, Delta State House of Assembly, Rt...

Reps Decry Lack of CNG Conversion Centres in North-East, North-West

Lawmakers from northern Nigeria on Thursday criticized the Federal...

Reps Urge Federal Government to Upgrade and Build More NYSC Camps

The House of Representatives has called on the Federal...

Delta Speaker assures of high premium on Assembly staff 

By Anne AzukaSpeaker, Delta State House of Assembly, Rt...

Bill Gates to Donate 99% of Wealth, Gates Foundation to Close by 2045

Billionaire philanthropist Bill Gates has announced plans to give...
spot_img

Related Articles

Popular Categories

spot_imgspot_img