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IPMAN decries corruption in ‘old’ NNPC

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The Independent Petroleum Marketers Association of Nigeria (IPMAN) has said that massive corruption and impunity at all levels of the past management of Nigerian National Petroleum (NNPC) has ruined its members’investments in the oil and gas sector.
The National Secretary of the association, Danladi Pasali, said majority of the players in the oil sector were not happy with the development and had been yearning for positive changes. He said what the association craved was a reform such as the ongoing ones being implemented by the new management of the NNPC.
“No genuine investor was happy with the past situation of the oil sector. Some of our investments were ruined due to corruption at all levels, favouritism and impunity. With the appointment of Ibe Kachikwu as the new group managing director (of the corporation) by President Muhammadu Buhari, we are convinced that this administration is ready for business.
“Our members will ensure more investments in the downstream sector. We have already started seeing positive signs just two weeks after his appointment. That is enough encouragement for us as investors to put our money back in the downstream sector” Pasali said in a statement made available to the media.

Read also: NNPC restructuring to affect every level -Kachikwu

He said the association was fully in support of the ongoing reforms in the NNPC because the downstream sector was almost dead before the rescue mission of the present administration.
“We have the capacity and investments to flood this country with fuel if given the chance. It is important to note that more than 85 per cent of the petrol outlets belong to our members. Therefore, we are closer to the people, as far as oil distribution is concerned, than any group or people,” he said.
He praised President Muhammadu Buhari for appointing the new GMD and the management just as he assured them of good working relationship to ensure a robust downstream sector.

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