"> IPMAN Boss Urges Privatisation of Refineries - Sahel Standard
December 1, 2020
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IPMAN Boss Urges Privatisation of Refineries

One way to address the lingering crisis in the nation’s oil and gas sector is to ensure the privatisation of government-owned refineries across the country.

Giving this charge at the weekend was the newly inaugurated National President of the Independent Marketers Association of Nigeria (IPMAN), Dr. Kolawole Adewoyin.

He spoke shortly after a judgment of the High Court sitting in Ibadan pronounced him as the authentic National President of IPMAN.

According to him, government-owned refineries in Kaduna, Port Harcourt and Warri all incurred a cumulative loss of N32.8 billion in 2017 and N126.2 billion and that with that figure, it is imperative for the government to consider privatising our refineries.

“Apart from the debt coming from our refineries, government-owned refineries are consistently unable to meet local demand, putting Nigeria in a precarious situation of importing nearly 1% of locally consumed petrol and significant portions of other refined products used locally.

Shedding light on the judgment, the new IPMAN boss attributed it to divine intervention.

“We are happy with this judgment. It shows that the judiciary is the last hope of the common man. Now that we have secured judgment, we will be able to implement our policies. I can assure all our members that better days are coming for all members nationwide.”

Speaking further, Adewoyin pleaded with members of the public not to see IPMAN members as those responsible for fuel hike, saying that they are also affected by the development.

On the deregulation of the downstream sector, Adewoyin said that it was only during the time of former President Olusegun Obasanjo that the policy was fully implemented.

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