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IPMAN, NIMEX to import 100,000mt of petrol


Oil barrels

Oil barrels

The Independent Petroleum Marketers Association of Nigeria (IPMAN), has enters into strategic partnership with NIMEX Petroleum Group to import 100,000 metric tonnes of Premium Motor Spirit (PMS), also called to complement the laudable efforts of the Federal Government in driving the deregulation policy.

This is contained in a statement issued and signed by its National President, Obasi Lawson in Abuja after the signing of Memorandum of Understand (MoU) with NIMEX Petroleum Group and made available to newsmen.

Obasi said that the product which will be imported by NIMEX Petroleum Group will be distributed to its teeming members across the country to argument supply received from Nigerian National Petroleum Corporation (NNPC) and other sources.

“IPMAN and Nimex Petroleum Group has partnered together to import over 100,000 metric tonnes of petroleum product into the country to quash market forces and compliment government effort.

The IPMAN president said that product would go a long way to make petrol available in the country, adding that the quantum of petrol received from NNPC was not sufficient for its members.

He however, commend the Minister of State for Petroleum Resources, Dr Ibe Kachikwu, and Dr Maikanti Baru, the Group Managing Director of NNPC for the wonderful job they are doing in ensuring that products are available for the consuming public in spite of the grave challenges they face.

He said that IPMAN is not unmindful of the positive effect to its complementary effort to bring in petroleum products to service the dire needs of our members.

Lawson said that this strategic relationship established with NIMEX Petroleum Group will also support to improve the supply chain of petroleum product in the country in driving the deregulation policy.

According to him, IPMAN, which is an umbrella association of independent marketers of petroleum products in Nigeria has today grown to occupy a pride of place in the downstream sector of the Nigerian Oil and Gas Industry.

“With membership of well over 10,000 marketers across the length and breadth of Nigeria, IPMAN has over the years grown to control well over 87 per cent of the petroleum products retail outlets in Nigeria with a reach that auspiciously spreads to every nook and cranny of the country.

“This commendable spread by IPMAN members in the establishment of retail outlets across the country necessarily requires a steady supply of petroleum products in order for its positive effect to be felt both by government and Nigerians.

The President of NIMEX Petroleum Group, Kanwar Ratra, assured of its preparedness to satisfy the yearning of IPMAN and its members for products.

Ratra said that the partnership with IPMAN, a very strong petroleum marketers association would yield fruitful result, adding that the importation will be continuous to support IPMAN members and to quash the market force.

He lauded the leadership of IPMAN for their initiative to ensure that petroleum products are available at every nocks and cranny of the country, adding that partnership would ease scarcity and quashed market price seeing the enviable pedigree of IPMAN in the global petroleum trade.

“To this end, we assure all IPMAN members, the Federal Government and the public at large that IPMAN’s strategic relationship with NIMEX will ensure the availability of Premium Motor Spirit (PMS), Automated Gas Oil (AGO) and Dual Purpose Kerosene (DPK) in large commercial quantities to complement the efforts of the Federal Government to quench the burning thirst of our members and the public at large for these products.

“It will be a win-win situation for IPMAN, its teeming members, the generality of Nigerians and NIMEX.”

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  • emmanuel kalu

    Build a modular refinery and stop the importation. if all you member band together, with some investment and maybe government incentive, you can install a 20,000 to 50,000BPD modular refinery.

    • ewucanbeer

      Later the SW bastards will think we in the SE do not want to invest in infrastructure. First comment here from a nwannaa.