News Investigators/ National President, Independent Petroleum Marketers’ Association of Nigeria (IPMAN), Abubakar Shettima, has commended President Bola Tinubu’s efforts at ensuring energy security.
Mr Shettima gave the commendation in Ibadan at Tuesday’s Annual General Meeting (AGM) and election of new executives of IPMAN Western Zone.
According to the IPMAN president, Tinubu did the right thing immediately when he came to power by deregulating the oil sector to allow investments to come into the country.
He said it was notable that during the past Christmas and New Year festivities, filling stations did not experience the traditional queue.
“The fuel is available everywhere, and the price is coming down compared to the tradition that we knew before, despite the fact that there was a subsidy.
“Mr. President is on the right track in engendering energy in the country,” Shettima said.
He also called on the Federal Government (FG) to privatise the nation’s public refineries for optimum performance.
According to him, Nigeria, the sixth largest producer of crude oil in the world, has four public refineries.
“Two are in Port Harcourt, one in Warri, Delta State, and another one in Kaduna State, but none is operating in full capacity,” Shettima said.
He, however, said there were reports recently that one of the Port Harcourt refineries and that of Warri were functioning, hence the need for privatisation.
According to him, the best time to privatise or sell off the refineries is now.
“But to competent people.
“It’s better to privatise these refineries but to people that are concerned, like independent petroleum marketers.
“If the government can take a bold step in selling these refineries to independent petroleum marketers, it will add more value to Nigeria,” Shettima said.
He also predicted that the price of petrol would continue to drop due to the efforts of the present administration.
He said, “We are expecting a decrease in the rate of PMS with the coming of the refinery. Now that the Port Harcourt refinery has started working, there will, definitely, be a price decrease.
“Immediately when the whole refineries are functioning, then the pressure in Nigeria will become less, and dollar rate will as well come down.
“When the price of dollars is down, the price of the petroleum products will come down.”
Earlier, the immediate past chairman, IPMAN Western Zone, Alhaji Dele Tajudeen, said his administration was able to achieve so much due to the foundation of peace that was engendered.
He said before his administration, IPMAN was divided due to a serious crisis but with the support of every member, peace and cordial relationship was restored.
The News Agency of Nigeria (NAN) reports the election of the zonal executives of the association produced Chief Oyewole Akanni as the elected zonal chairman.
In his acceptance speech, Akanni lauded the strides of his predecessor, saying that Tajudeen’s leadership and vision were instrumental in shaping the zone into what it had become.
He said that his leadership would build on the successes of the Tajudeen-led administration.
“As a functional and participatory Vice Chairman under your leadership, I am pleased to affirm that this new administration will be of continuity, building upon the excellent foundation and initiatives that you so ably started,” Akanni said.
He pledged to work collaboratively and harmoniously with all and sundry, serving the association diligently.
Akanni said that his administration would work with relevant stakeholders to get the five depots in the western zone working.
NAN recalls the zone inaugurated its zonal secretariat in Ibadan on Monday.
NAN
