IPMAN Suspends Partnership with Refiners, Others

The Independent Marketers Association of Nigeria (IPMAN) has suspended talks with foreign oil refining companies until after the resolution of its crisis in December this year, its Controller of Operation, Mr. Mike Osatuyi, has said.

He also said IPMAN will not seek lending from international financial institutions in order to boost its operation, discuss the possibility of importing premium motor spirit (PMS) into the country, among other issues that are germane to the downstream sub-sector of the oil and gas industry.

He said the development is aimed at ensuring that IPMAN has a clearer issue of happenings to the sub-sector, operates in line with the constitution, which guides activities of individuals and organisations in the country.

Osatuyi said: “IPMAN, like any other, is subject to the law of the land, therefore, ensures that it operates within the confines of the law. The Supreme Court has fixed December for the hearing and judgement on the case that borders on leadership tussle in the union. The case is being presented for hearing and judgment in order to find a lasting solution to the crisis. The issue is decisive, as it will enable IPMAN to know and take the next line of action needed to move the union forward.”

He said IPMAN would get better and stronger after the resolution of its leadership crisis, noting that such issues are tests of the viabilities of any organisation that is determined to be progressive in the society.

Osatuyi said the leadership crisis might be a major reason, why IPMAN is not enjoying the support of the Nigerian National Petroleum Corporation (NNPC),  stressing that NNPC would love to see all the stakeholders living in peace in order to be able to promote the corporate existence of the industry.

He said the role of IPMAN is central to the growth of the downstream sub-sector of the nation’s oil industry as it controls a larger percentage of the fuel distribution market.

“IPMAN is controlling more than 70 per cent the retail outlets nationwide. Its outlets are visible and have also helped in ensuring a seamless distribution of petroleum products across the country,” he added

He noted that IPMAN has concluded plans to set up its own refineries, in order to improve local consumption of fuel. He said when IPMAN’s refineries come on stream, they would help Nigeria to export fuel to other countries in the West African sub-region and beyond.

Similarly, IPMAN’s southwest Chairman, AlhajiDebo Ahmed, urged the Federal Government to provide an enabling environment for investors that want to go into the processing of crude oil in Nigeria, adding the idea would help in contributing to the growth of the economy.