Saturday, July 12, 2025

IPMAN advises FG on complete deregulation of petroleum sector

The association stated that full deregulation would help make the petroleum sector more stable.

• October 1, 2022
Independent Petroleum Marketers Association of Nigeria (IPMAN)
Independent Petroleum Marketers Association of Nigeria (IPMAN)

Yakubu Suleiman, national spokesperson of the Independent Petroleum Marketers Association of Nigeria (IPMAN), has advised the federal government to hasten up full petroleum sector deregulation to open up the market further.

Mr Suleiman gave the advice in a telephone interview on Saturday, as the country marked its 62nd year of independence.

He stated that full deregulation would help make the sector more stable.

The IPMAN spokesperson commended the federal government, especially the Nigerian National Petroleum Corporation (NNPC) Limited and the Petroleum Products Marketing Company Limited (PPMC) management and other stakeholders, for their constant support.

Mr Suleiman assured Nigerians of IPMAN’s commitment to an adequate continuous supply of petroleum products across the country.

Similarly, a financial consultant, Henry Ewa, advised the federal government to fully implement the Petroleum Industry Bill (PIB), which was signed into law in 2021.

Mr Ewa said the key objective of the PIB was to overhaul and transform the Nigerian oil and gas industry because of its significant impact on Nigeria’s economy.

“The PIB is to provide legal, governance, regulatory and fiscal framework for the Nigerian Petroleum Industry and development of host communities,” he said.

Mr Ewa also reiterated the need for Nigeria to urgently diversify its economy from making fuel the major source of income.

(NAN)

We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.

More from Peoples Gazette

Abubakar Kyari

Agriculture

FG tasks ECOWAS on leveraging financing strategies for agroecology

The federal government has urged stakeholders in the agriculture and finance sectors in the West Africa region to leverage financing strategies to enhance agroecology practices

Katsina State

Politics

Katsina youths pledge to deliver over 2 million votes to Atiku

“Katsina State is Atiku’s political base because it is his second home.”

A polling unit

States

Edo electoral commission boss hails LASIEC

The Edo electoral commission boss and his team were in Lagos to observe the election.

Politics

Police mount scanty roadblocks as Lagos residents vote to elect council leaders

The Lagos State Independent Electoral Commission is conducting elections across the 20 local government areas and 37 LCDAs.

Chimamanda Umeh

Education

Ijanikin: Chimamanda chronicles college life in new book

Recalling her daily life in college, Ms Umeh said she learnt to “flow with the tide,” adding that she also had low moments, during which she felt like giving up.

Seme border NIS officials

Politics

NIS leaves border open as Lagos residents choose LG chairs, councillors

Mr Adamu in Seme stated on Saturday that the border was an international one, falling under the exclusive list.

LASIEC building

Politics

Tight security at LASIEC headquarters amid Lagos local govt elections

At the LASIEC office, a strong presence of security personnel, including several police officers, was reported.

Desmond Elliot

Rights

PVC proof of civic responsibility, not party loyalty: Desmond Elliot

Mr Elliott said this shortly after casting his vote at Onitolo Nursery/Primary School, Unit 009, in Surulere, Lagos, on Saturday.