IPMAN Plans to Import Fuel Without Subsidy Payment

Cat:

Related stories

Breakdown as FAAC Disburses N1.818 Trillion in June 2025 

• FG Receives Lion share By Abiola Olawale The Federation Account...

2027: Osun Senator, Fadeyi Dumps PDP, Amid Adeleke’s Defection Speculations

By Abiola Olawale Senator Olubiyi Fadeyi, the lawmaker representing Osun...

Ranked: The 40 Countries With the Best Culture and Heritage

Greece is the best country in the world known...

EFCC Probing 18 Sitting Governors in Major Corruption Crackdown, Olukoyede Reveals

Reveals ex-governor Arrested in UK for spraying Money By...

Natasha Vows to Return to Senate Tuesday, Despite Akpabio’s Appeal

By Abiola Olawale Suspended Kogi Central Senator Natasha Akpoti-Uduaghan has...

The Independent Petroleum Marketers Association of Nigeria (IPMAN) at the weekend said it has started discussing with foreign partners to refine crude oil abroad and import Premium Motor Sprit (petrol) and Kerosene into the country.

It added that it has no intention to claim any subsidy payment from the Federal Government through the method.

IPMAN National Secretary Danladi Pasali, who spoke to reporters in Abuja, explained that should the Federal Government approve the intervention, it would be a temporal relief arrangement pending the improvement of the capacity of the Nigerian National Petroleum Corporation’s (NNPC’s) refineries and the construction of greenfield refining entities.Petroleum Marketers, crude oil

Read also: Oil Crisis/OPEC+ Meeting: Anxiety As Prices Dip After Hitting $40 Per Barrel…

According to him, the initiative was developed by the association’s new executives to assist the present administration to reduce cost in subsidy payment at the same time meet products’ demand.

His words: “We urged  the Buhari  administration  to support  IPMAN  in mobilising  our foreign  partners  in importing  petroleum  products at no cost or  without  subsidies  payment to government.

”We have done all our mathematics that through our new model of Crude Oil SWAP arrangement; we can wet the country with petrol and kerosene and still gain from the transactions,” Pasali said.

Nigeria is currently consuming about 35 million litres of PMS. But only 30 per cent of the amount can be refined by the four local refineries at full capacities.

The IPMAN secretary said the association in the long run will construct two brand new refineries in the country with 400,000 barrel refining capacity with Blue Oil International.

Read also: Anxiety As China Begins Major Trial of State-Run Digital Currency

He added that the Petroleum Marketers association’s National President Mr. Chinedu Okoronkwo is in Lagos to monitor the distribution of the PMS to its members to stop its scarcity.

Pasali said with government’s cooperation, IPMAN members will stop fuel scarcity with their over 20,000 filling stations.

Hamilton Nwosa
Hamilton Nwosa
Hamilton Nwosa is an experienced, and committed communication, business, administrative, data and research specialist . His deep knowledge of the intersection between communication, business, data, and journalism are quite profound. His passion for professional excellence remains the guiding principle of his work, and in the course of his career spanning sectors such as administration, tourism, business management, communication and journalism, Hamilton has won key awards. He is a delightful writer, researcher and data analyst. He loves team-work, problem-solving, organizational management, communication strategy, and enjoys travelling. He can be reached at: hamilton_68@yahoo.com

Subscribe

- Never miss a story with notifications

- Gain full access to our premium content

- Browse free from up to 5 devices at once

Latest stories

NDN
Latest News
Breakdown as FAAC Disburses N1.818 Trillion in June 2025 2027: Osun Senator, Fadeyi Dumps PDP, Amid Adeleke's Defection SpeculationsRanked: The 40 Countries With the Best Culture and HeritageEFCC Probing 18 Sitting Governors in Major Corruption Crackdown, Olukoyede RevealsNatasha Vows to Return to Senate Tuesday, Despite Akpabio's AppealPresidency, ADC in War of Words Over BuhariPresidency, ADC in War of Words Over Buhari(VIDEO) Gambari Weighs in on Buhari's Legacy, Says History Will Be Kind to Him2027: Osun Senator, Fadeyi Dumps PDP, Amid Adeleke's Defection SpeculationsEFCC Probing 18 Sitting Governors in Major Corruption Crackdown, Olukoyede RevealsDrama as Okpebholo Tells Peter Obi: Notify me Before Visiting Edo or Else I Can't Guarantee Your SecurityTrump Vows to Sue Rupert Murdoch as Epstein Report Opens New Rift in Their RelationshipTinubu Names IBB’s Son, Top Experts to Lead Key Nigerian Agencies2027: Labour Party Appoints Nenadi Usman as Interim National Chairperson Alleged $9.6 Billion P&ID Fraud: Fleeing Briton’s Surety Arrested, Produced In Court
X whatsapp