IPMAN hails Dangote refinery, urges FG To Fix Depots To Ease Distribution
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has commended the birth of Dangote petrochemical refinery in Nigeria’s Petroleum sector.
Mr Chinedu Anyaso, Chairman of IPMAN, Enugu Community depot in charge of Anambra, Ebonyi and Enugu states said this in an interview with journalists in Awka on Monday.
Recall 18.5 billion dollar Dangote refinery with 650, 000 barrel production capacity of Premium Motor Spirit was inaugurated by President Muhammadu Buhari on Monday.
The refinery according to the owners was designed for local demand and also export purposes.
Anyaso said the project would impact positively on the sector by addressing supply shortages and price hikes.
He said though there would be an initial increase in the pump prices of products but it would decrease in the long run.
Anyaso called for revitalisation and operationalisation of all moribund depots including the Enugu Petrochemical Depot with all pipelines leading to them for easy distribution of products.
He said this would reduce challenges of sourcing products and drive down prices.
According to him, with this refinery operational, we will no longer be exposed to every activity in the world market.
“They will buy locally, refine and sell locally, we will no longer need forex to import product but rather, it will sell refined products and earn us forex.
“It is a welcome development,” he said.
Anyaso called on the Federal Government to revive and optimise production at the four existing refineries in Port Harcourt, Warri and Kaduna to support the what Dangote would be doing for full sufficiency.
He thanked the Buhari administration for signing the Petroleum Industry Act which encouraged private participants with capacity to invest in the industry.
The Marketer however advised that monopoly should not be encouraged as it would leave Nigerians worse off by leaving them at the mercy of one supplier.
According to him, we need more players to come, the market is there, so there should be competition, the Federal Government should ensure a monopoly is not created.
“The PIA which this administration graciously signed encourages private sector involvement, people who have the capacity should be encouraged to follow the Dangote example,” he said.