The Independent Petroleum Marketers Association of Nigeria (IPMAN) has reacted to recent leadership adjustments at the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). The association described the changes as significant for regulatory clarity and sector stability.
Leadership Changes and Sector Developments
IPMAN National President, Alhaji Abubakar Maigandi Shettima, spoke on Thursday in Abuja while addressing recent sector developments. These included the ongoing collaboration between IPMAN and the Dangote Petroleum Refinery.
On Wednesday, the Presidency announced the resignations of NMDPRA Chief Executive Farouk Ahmed and NUPRC Chief Executive Gbenga Komolafe. The resignations followed public controversies linked to a petition by Dangote Group Chairman Aliko Dangote to the Independent Corrupt Practices and Other Related Offences Commission (ICPC). The petition raised issues around fuel importation, pricing, and regulatory oversight in the downstream sector.
Shettima noted that the leadership changes have helped provide clarity for stakeholders. He also emphasized that the Dangote-IPMAN partnership continues under the current regulatory framework.
Domestic Refining and Fuel Importation
IPMAN reaffirmed its stance that domestic refining must take priority to reduce dependence on petroleum imports. Shettima warned that combining local refining with continuous importation could negatively affect market stability, foreign exchange, and employment.
“Our position remains that domestic refining is essential for energy security, job creation, and economic stability. Reckless issuance of import licenses can distort market dynamics and weaken investor confidence,” he said.
Shettima highlighted that independent marketers are crucial for nationwide fuel distribution. He added that a functional domestic refining sector could lower logistics costs, stabilize pump prices, reduce pressure on the naira, and create jobs across the downstream petroleum value chain.
Finally, Shettima stressed that consistent and transparent regulation is vital for sustaining investor confidence. He noted that regulatory clarity is essential for maintaining ongoing partnerships and supporting sector growth.
