• Privacy Policy
  • Terms
  • About us
  • Contact Us
  • Staff Email
Friday, October 3, 2025
  • Login
TheMattersPress
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
TheMattersPress
No Result
View All Result
Home Economy/Technology

IPMAN commends approval for private importers of petrol, predicts price fall

IPMAN

The Matters Press by The Matters Press
June 5, 2023
Reading Time: 2 mins read
0
IPMAN, NUPENG tango over illegal increase in petrol price

The Independent Petroleum Marketers Association of Nigeria (IPMAN), has commended the Federal Government for approving importation of petroleum products by private firms.

RELATED POSTS

Think Tank welcomes first interest cut in 5 years, notes that CBN decision aligns with its projection ‎

Atiku’s hunger revolution, delusional – TMSG

‎Fubara, lawmakers’ position vindicate President Tinubu’s emergency rule declaration-TMSG

Mr Chinedu Anyaso, Chairman of IPMAN Enugu Depot Community, in charge of Anambra, Ebonyi and Enugu States, said this while reacting to the development in Awka on Sunday.

The Managing Director of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Farouk Ahmed, on Friday said private marketers could now import petrol into the country.

Farouk said under the new arrangement, the NNPCL had ceased to be the sole importer of petrol into Nigeria.

“We put the regulation in place, we make sure quality control is complied with, we make sure the product is there and we give licence to any prospective importer.

“The market is now open for everybody that wants to import as far as they meet all the requirements. The NMDPRA will no longer fix prices or release templates for petrol.

“As far as we are concerned in the NMDPRA, this is not like before when the PPPRA fixes the price; in a deregulated market, it is the market force that dictates the price,” he said.

Anyaso said this was a positive development and appropriate responses to the demands of marketers and Nigerian masses who had condemned the monopolistic grip of NNPCL on the oil and gas sector for decades.

He said this would create the much needed competitive pricing environment and allow market forces to demand price of products.

According to him, “two days ago, I repeated the call that the Federal Government should issue import licences to private investigators, I also said it is wrong for the NNPCL, which is a private company, to be the sole importer and determiner of prices.

“I am happy that the same NMDPRA also announced that approval has been given to private importers. This is how it should be in a deregulated Industry.

“The competition that will begin in the coming days will surely ease the pain of high prices of products,” he said.

Anyaso commended the Federal Government for its bold step and called on it to extend the same to refineries to complement the contributions of Dangote refinery when it commenced production.

He said the four existing refineries should be repaired to produce at optimal capacity while licences are issued to more people who could build modular refineries.

He said this was the time to address the problem of Enugu Depot which had been moribund for over 15 years and had made distribution of products in the zone difficult as a result.

“We are appealing that as the government is addressing the issue of supply, they should also address the problem of distribution, Enugu Depot has not functioned for over 15 years, we need the Federal Government to fix it.

“It has not been easy for our members who source products from Lagos, Warri, Calabar and bring by road, the risk, accident and losses have been too much,” he said.

Tags: IPMAN
ShareTweetPin
The Matters Press

The Matters Press

Related Posts

Consumer commission, CBN, EFCC investigate violations in money lending
Economy/Technology

Think Tank welcomes first interest cut in 5 years, notes that CBN decision aligns with its projection ‎

September 24, 2025
Drop your frustration, let President Tinubu be, Group picks on Atiku
Economy/Technology

Atiku’s hunger revolution, delusional – TMSG

September 23, 2025
‎Fubara, lawmakers’ position vindicate President Tinubu’s emergency rule declaration-TMSG
Economy/Technology

‎Fubara, lawmakers’ position vindicate President Tinubu’s emergency rule declaration-TMSG

September 22, 2025
2023 maritime, shipping outlook force experts to call for aid
Economy/Technology

Leap in non-oil exports gain of Nigeria:s economic diversification ‎

September 17, 2025
NBS reports increase in Inflation
Economy/Technology

Think Tank ‎projects 17% inflation rate by year-end, urges CBN to ease benchmark rate ‎

September 17, 2025
Old pension scheme beneficiaries get a boost in entitlements
Economy/Technology

‎GROUP LAUDS INSURANCE SCHEME FOR RETIREES IN NIGERIA. ‎

September 14, 2025
Next Post
Kenya loses $2m weekly as the tea sector crisis spirals

Kenya loses $2m weekly as the tea sector crisis spirals

Chamber wants to cut production

OPEC, OPEC+ agree on crude oil production cut

Recommended Stories

Protesting workers block Ekweremadu from Senate chamber

Poverty resides in Nigeria, but Buhari moves to banish it

March 16, 2021
Stable petrol supply excites Buhari

Nigeria inches to be exporter of petroleum products

September 4, 2020
NIMASA moves against illegal fishing in Nigerian waters

NIMASA conducts post-impact assessment of wreck removal on Badagry creek

June 20, 2022

Popular Stories

  • Rising prices of goods cause protests in Morocco

    Rising prices of goods cause protests in Morocco

    0 shares
    Share 0 Tweet 0
  • NLNG not responsible for gas supply shortfall, price hike

    0 shares
    Share 0 Tweet 0
  • NCC sets fresh operational fees, spectrum prices for telecom operators

    0 shares
    Share 0 Tweet 0
  • Hoarding causes hike in prices of grains

    0 shares
    Share 0 Tweet 0
  • Prices of Petrol, diesel increase in November

    0 shares
    Share 0 Tweet 0
TheMattersPress

We bring you the best news update in Nigeria

LEARN MORE »

Recent Posts

  • Think Tank welcomes first interest cut in 5 years, notes that CBN decision aligns with its projection ‎
  • Atiku’s hunger revolution, delusional – TMSG
  • ‎Fubara, lawmakers’ position vindicate President Tinubu’s emergency rule declaration-TMSG

Categories

  • Agriculture
  • Economy/Technology
  • Energy
  • Entertainment/sports
  • Features
  • Foreign
  • Multimedia
  • Natural Resources
  • News
  • Oil and Gas
  • Photo
  • Politics
  • Security
  • Thematterspress
  • Uncategorized
  • Video

© 2025 Domo Tech World - Powered by Thematterspress.

No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us

© 2025 Domo Tech World - Powered by Thematterspress.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Call Us