Scarcity and high prices of petroleum products are set to drop in line with the Federal Government’s deregulation drive as the Independent Petroleum Marketers Association of Nigeria (IPMAN) pens a strategic partnership with NIMEX Petroleum Group to import 100,000 metric tonnes of petroleum products.
The products, to be imported by NIMEX, would be distributed to IPMAN members who cover over 87 per cent of the nation’s retail outlets to argument supply from the Nigerian National Petroleum Corporation (NNPC) and others.
In a statement after signing the Memorandum of Understanding (MoU) with NIMEX in Abuja, the IPMAN National President, Mr. Obasi Lawson, said they were partnering “to import over 100,000 metric tonnes of petroleum products into the country to quash market forces and compliment government effort.”
Obasi expressed confidence that the expected import would go a long way in making fuel readily available in the country, adding that the quantity being received from the NNPC was not sufficient for its members.
Explaining the choice of NIMEX, Obasi said the company has global footprint in over 15 countries in Africa, and with three decades experience in providing solid services in petroleum-related trading and in fostering globally recognised relationships aimed at delivering consistent value for its patrons.
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