Democracy Day: IPMAN says Buhari’s administration can transform petroleum sector through PIB

The Independent Petroleum Marketers Association of Nigeria (IPMAN) says President Muhammadu Buhari-led administration can transform the oil and gas sector with the passage of the Petroleum Industry Bill (PIB).

IPMAN’s President, Mr Chinedu Okoronkwo, made the assertion in an interview with the News Agency of Nigeria ( NAN) on Saturday in Lagos as the nation marked the June 12 Democracy Day.

Okoronkwo said: “IPMAN has confidence that this administration can transform the oil and gas sector with the successful passage of the PIB which is currently before the National Assembly.

“The government has been showing vigour in pushing for its passage and we as industry stakeholders believe that there should be no further delay in its passage in the interest of national development”.

He said that the PIB would transform the sector by providing the needed legislative framework and a sense of direction for oil and gas sector operations.

“It will attract investments to upstream, midstream and downstream sectors, liberalise the market and create job opportunities for Nigerians ,” he said.

Okoronkwo said that IPMAN was satisfied with the supply of petroleum products so far under the administration.

“We are happy with the performance of the president who himself is the Minister of Petroleum Resources and Chief Timipre Sylva who is the Minister of State for Petroleum Resources.

“We also acknowledge the efforts of Mr Mele Kyari, Group Managing Director, Nigerian National Petroleum Corporation and other heads of agencies who have been working assiduously to ensure product availability regardless of the associated cost element”, he said.