1M BARRELS OF CRUDE SUPPLIED TO DANGOTE REFINERY: IPMAN APPLAUDS NNPCL



IPMAN commends the Nigerian National Petroleum Company Limited (NNPCL) for delivering a million barrels of crude to the Dangote Refinery. 

Addressing journalists in Port Harcourt on Friday, Dr. Joseph Obelle, the IPMAN Chairman in Rivers State, emphasized that the new $19 billion refinery brings a crucial advantage for Nigerians – the end of fuel scarcity in the country. While he praised this development as commendable, he cautioned against the privatization of the Port Harcourt Refinery, expressing concern that it could result in Dangote Refinery gaining a monopoly.


Obelle expressed worries about the risk of a monopoly arising if the Port Harcourt Refinery continues to be under state control. He advocated for its prompt privatization to foster fair competition and curb potential price increases. According to him, given Dangote's formidable presence in business competition, he recommended the immediate privatization of the Port Harcourt Refinery, which is set to commence operations concurrently with the Dangote Refinery.

The current structure of NNPC Limited is ill-equipped to face fierce competition from the Dangote Refinery. If the Port Harcourt Refinery remains unprivatized, it could signal a deliberate monopoly in favor of the Dangote Refinery, rendering the $1.5 billion rehabilitation investment futile.

ABOUT IPMAN

IPMAN, which stands for the Independent Petroleum Marketers Association of Nigeria, is a notable association in Nigeria's petroleum industry. It represents the interests of independent marketers who are involved in the distribution and marketing of petroleum products across the country. IPMAN plays a crucial role in advocating for the rights and concerns of its members within the petroleum sector.

The association is actively involved in discussions and negotiations with government bodies, regulatory agencies, and other stakeholders to address issues affecting the downstream oil and gas industry in Nigeria. This includes matters related to pricing, distribution, and regulations that impact the business operations of independent petroleum marketers.

IPMAN's influence extends to various aspects of the petroleum value chain, and its activities are essential for ensuring a smooth and efficient distribution of petroleum products throughout Nigeria. The association's role in representing the interests of independent marketers contributes to the overall functioning of the country's energy sector.

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