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IPMAN Urges Tinubu to Eliminate NNPC’s Monopoly of Petrol Importation 

By Moses Patience Chat 

The lndependent  Petroleum Marketers Association of Nigeria (lPMAN) has called on President Bola Ahmed Tinubu to totally deregulate the downstream oil sector by eliminating the monopoly of the Nigerian National Petroleum Company Limited (NNPCL) as the sole importer of petrol in the country.

This was disclosed in a statement signed by the President of IPMAN, Alhaji Debo Ahmed, and the National Secretary, Chief John Kekeocha.

In the statement, IPMAN noted that “the primary essence of removing subsidy is to free the market and make it competitive,” and that  allowing other  interested parties into the petroleum supply network, either through local refining or importation, will guarantee adequate production and supply and ultimately,  “precipitate reasonable reductions in the high price that is being witnessed at this initial take off.

“It is our belief and hope that the Nigerian National Petroleum Company (NNPC) Limited will ensure that the product is made available for Nigerians and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) ensures adequate monitoring and distribution making sure that the policy takes place seamlessly.”

lPMAN further assured that it will work in alignment with the present administration in this social contract by playing according to the rules and believing that this policy will be a milestone in repositioning Nigeria’s economy.

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