Nigeria's foremost Online Energy News Platform

We Possess Numerical Strength to Force Down Petrol Price- IPMAN

Adaobi Rhema Oguejiofor 

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has said that it possesses the numerical strength to force down the price of petrol once the independent importation of the product begins. 

This was disclosed by the National President of IPMAN, Chinedu Okoronkwo, while addressing journalists in Abuja on Wednesday. He stated that the Association is in total support of the removal of fuel subsidy  by President Bola Ahmed Tinubu, adding that he is optimistic that the unbundling of the downstream sector has opened the doors for more investors to come in.

In his own words, “our association has the numerical strength to force down the price of fuel once they start the independent importation of the product.’’

The IPMAN President also said that the Association has decided to use Compressed Natural Gas (CNG) as an alternative energy source in order to reduce the effect of subsidy removal, expressing that its adoption will serve as an alternative fuel that would bring a better and long-lasting solution to the constant fluctuation of petrol price in the global market.

Okoronkwo said that bringing CNG as an alternative energy source would create relief for the government and its citizens.

According to him, “we have also discovered that bringing an alternative that is even cheaper than firewood, will not only create relief for the government and its citizens but is also environmentally friendly. CNG is abundantly available in Nigeria than anywhere in Africa. 

“In the Niger-Delta region, you see billions of tonnes of gas flare being wasted daily, these are huge amounts that should be accruing to our Gross Domestic Product (GDP) but we are wasting it because there is no market for it,” 

Social
Enable Notifications OK No thanks