The Independent Petroleum Marketers Association of Nigeria (IPMAN) has called on the Federal Government to permit its members to source petroleum products directly, as part of efforts to ease the ongoing pressure in the downstream sector.
This appeal was made by Mr Chinedu Anyaso, Chairman of IPMAN’s Enugu Depot, which oversees Anambra, Ebonyi, and Enugu states, during his 2024 Independence Day address in Awka on Tuesday.
According to Anyaso, the current structure, in which the Nigerian National Petroleum Company Limited (NNPC Ltd) controls both the sourcing and pricing of petroleum products, places significant limitations on independent marketers.
“At present, we are selling at prices dictated by the cost at which we receive the products,” he said. “There is little we can do to influence key factors such as pricing and product availability.”
Anyaso emphasised that IPMAN accounts for approximately 85 per cent of retail petroleum outlets across Nigeria. Given this substantial market share, he argued that the association is well-positioned to play a more active role in the sector’s ongoing reforms.
“If the downstream sector is further liberalised, allowing IPMAN to participate as a major stakeholder, the availability of products would increase and prices would become more competitive,” Anyaso added. He expressed optimism that such changes would benefit both marketers and consumers.
As part of this broader strategy, Anyaso revealed that IPMAN’s national leadership is currently engaged in high-level discussions with the management of Dangote Refinery, with a view to securing direct supply from the facility. This move, he noted, could significantly lower the cost of petroleum products for consumers.
“We are confident that sourcing directly from the Dangote Refinery will have a positive impact on pricing,” Anyaso said.
In addition, the IPMAN chairman provided an update on the Port Harcourt Refinery, reporting that efforts to rehabilitate the facility are well underway. He expressed hope that the refinery would soon resume operations, thereby increasing the domestic supply of petroleum products.
“Our recent visit to the Port Harcourt Refinery confirmed that substantial work is being carried out, and we are optimistic that product lifting will commence in the near future,” he stated.
However, Anyaso urged the public to recognise the challenges faced by petroleum marketers amidst the current volatility in the sector. He pointed out that reduced sales and profitability have negatively impacted marketers, making it difficult to maintain normal operations.
“The ongoing challenges in the sector are affecting us as much as they are affecting the public. We ask for patience and understanding as we work to find long-term solutions,” he appealed.
Despite these difficulties, Anyaso encouraged Nigerians to remain hopeful, assuring them that there are brighter prospects ahead for the petroleum sector and the nation as a whole.
“Nigerians should continue to have faith in the country. There is light at the end of the tunnel,” he concluded.
