NNPC restructuring: IPMAN backs Kachikwu, opposes PENGASSAN, NUPENG

IPMAN, a stakeholder in the oil and gas industry, has expressed satisfaction with the restructuring of the NNPC, against an earlier opposition by PENGASSAN and NUPENG.

National President of Independent Petroleum Marketers Association of Nigeria (IPMAN), Chief Obasi Lawson, has said the plan to restructure the Nigerian National Petroleum Corporation (NNPC) by the Federal Government as announced by minster for petroleum Resources, Ibe Kachikwu will go a long way to sanitise the petroleum sector.

This comes against an earlier opposition by sister unions in the sector, which led to a strike, and shutting down of NNPC facilities across the country.

Speaking during a two-day visit to the Attorney General and Commissioner of Justice of Cross River state, Mr. Joe Abang in Calabar, the state capital, Lawson said the introduction of any new policy was likely to attract opposition, which was why the oil workers embarked on strike.

Also speaking, the Economic Adviser to IPMAN boss, Mr. Michael Udofia, described the problem of petrol scarcity in the country as systemic.

Read also: Fuel scarcity: NNPC, CBN mull forex for major marketers

He said: “The problem of fuel scarcity in Nigeria is systemic, and until this system issues are tackled, we would still be going around in circles. We do not have any reason to be importing petroleum products. Why are our refineries established in the 70s and 80s not maintained over the years?

“We have crude oil, we export that same crude oil, only to go back and import the refined product. It is a paradox. By moving out the crude oil, of course freight comes in, insurance comes in and the people that haulage this product to the different countries come in. That is a huge cost in itself. For you to go and bring these same products again, that is additional cost. So, I think the time has come for us to do the right thing, because we don’t have any other country outside Nigeria. Let us do the right thing and ensure our refineries work.

“Two, if you feel we should import, then there is no need for the price ceiling. If you fix this price at N86.50, what happens if a businessman brings in this product at a rate that is higher? For the mere fact that you have sealed the price, it is bound to throw up issues. So unseal it if you cannot refine it. Anybody that is able and capable to bring it, let him bring it in, and you find out that if you do so, with the fluctuation and almost near collapse of crude oil price internationally, the price can even come down to even below N86, because we are going to have efficiency in the system.”

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