Following the poor management of our refineries, the newly inaugurated National President of Independent Marketers Association of Nigeria, IPMAN, Comrade Kolawole Adewoyin has advised the Federal Government on
the need to privatized government-owned refineries in the country.
Comrade Adewoyin stated this shortly after a judgement of the High Court sitting in Ibadan on November 18, 2020 pronounced him as the authentic National President of the Independent Marketers Association of Nigeria, IPMAN.
According to him, government-owned refineries in Kaduna, Port Harcourt and Warri all incurred a cumulative loss of N32.8 billion in 2017 and N126.2 billion and that with that figure, it is imperative for government to consider privatizing our refineries.
“Apart from the debt coming from our refineries; government-owned refineries are consistently unable to meet local demand, putting Nigeria in a precarious situation of importing nearly 1% of locally consumed petrol and significant portions of other refined products used locally.
While speaking on the judgment that made him the new National President of the Independent Marketers Association of Nigeria, Comrade said it was the will of God
“We are happy for this judgement. It shows that judiciary is the last hope of common man. Now that we have secured judgement, we will weable to implement our policies. I can assure all our members that better days are coming for all members nationwide.”
Speaking further Comrade Adewoyin pleaded with members of the public not to see IPMAN members as those responsible for fuel hike, saying that they are also affected by the development.
Speaking on the deregulation of the downstream sector, Comrade Adewoyin said that it was only during the time of former President Olusegun Obasanjo that the policy was fully implemented.
He however commended the efforts of those currently establishing refineries in the country, saying that the gesture will no doubt reduce importation of petroleum products
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