The Independent Petroleum Marketers Association of Nigeria (IPMAN) has commended President Muhammadu Buhari and the National Assembly over the passage of Petroleum Industry Bill.
IPMAN in a press release signed by IPMAN National President, Chief (Dr) Kolawole Adewoyin and National Secretary, Dr. Engr. Suleiman Raimi said the passage into law of the Petroleum Industry Bill is a great achievement under President Muhammadu Buhari and the current National Assembly.
“The passage of Petroleum Industry Bill, PIB, 2020 into law is a good news for Nigerians. The PIB is necessary because almost all petroleum-related laws, including the Petroleum Act of 1969, had been belated for decades. In view of this, they are no more relevant and competitive globally. With the advancement in technology, the volatility of oil prices, climatic changes influencing the driving forces of the global economy, it has become imperative to review extant laws to bring them in alignment with current realities. That is why we happy with the passage of the bill.”
IPMAN added that far-reaching reforms in the Nigerian oil and gas industry can now be achieved.
Also speaking on privatisation of refineries; IPMAN also urged Federal Government to ensure that the Porthacourts, Warri and Kaduna refineries are privatised.
The association also said that it was surprised that Alhaji Aliko Dangote was not happy with the arrangement that 20% of the refinery he is constructing in Lagos should go to the Federal Government.
“As an association, we don’t see anything bad in that. The refinery he is currently constructing in Lagos is for Nigeria and Nigerians. He should give shares to the host community and also sell shares to IPMAN members and other stakeholders in the oil industry.”