The Major Oil Marketers Association of Nigeria (MOMAN) and the Independent Petroleum Marketers Association of Nigeria (IPMAN) have hailed the unveiling of the new Nigerian National Petroleum Company (NNPC) Ltd.

The marketers also tasked NNPC to be competitive and efficient in its operations to achieve the aim of the transition and for the nation’s benefit.

Olumide Adeosun, the chairman, MOMAN and Chinedu Okoronkwo, president of IPMAN, spoke in separate interviews on Tuesday in Lagos.

The new NNPC was officially unveiled by President Muhammadu Buhari on Tuesday in Abuja as a commercial venture.

Mr Adeosun commended Mr Buhari, Timipre Sylva, the Minister of State, Petroleum Resources and Mele Kyari, the group managing director of NNPC, for their vision to transform the company.

“Nigeria will benefit as a country consequently because it means that efficiency will now be one of their drivers rather than politics.

“It means that they will have a preference and deference to a free market rather than a monopoly.

“I wish them great success because they are now competitors in the downstream sector.”

Similarly, Mr Okoronkwo described the development as a good omen because it would open up both the downstream and upstream sectors of the industry.

“The company is now going to be making profit which ultimately will be a game changer for our economic situation,” Mr Okoronkwo said.

He said the transition of the NNPC and the coming on stream of the Dangote Petroleum Refinery would play significant roles in shaping Nigeria’s energy future.

(NAN)