Yemisi Izuora
The Independent Petroleum Marketers Association of Nigeira (IPMAN) has said that the intervention scheme introduced by the Nigerian National Petroleum Corporation (NNPC) late December went a long way to stabilise the supply system.
But the association observed that supply is still in deficit considering growing demand of the product.
Speaking with Oriental News Nigeria in Lagos, Mr. Mike Osatuyi national operation controller of IPMAN said the NNPC is yet to meet with growing demand, pointing that demand currently overwhelms supply.
“We will want the NNPC to boost supply to deliver products to members who are earger to sell at the new price regime” he said.
Osatuyi blamed current price disparity to inability of IPMAN members to source product from the NNPC, adding that once product is made available to members the issue of disparity in pump prices would be eliminated.
On upcoming refineries being executed by private companies, Osatuyi applauded the initiative and expressed the hope that once they come on stream, it will reduce import of fuel by government.
“The Dangote refinery which we believe will begin production by 2018 is a big project that will also enable the country export finished product, create jobs and improve on governments foreign exchange earning” he said.
The Controller also revealed that the refinery project being proposed by IPMAN is receiving the desired attention as the leadership of the association is currently holding high level discussion with interested parties including foreign partners to ensure the realisation of the project.
“We are looking at locating the refineries in Kogi and Bayelsa states, but the capacity and other strategic decisions that will facilitate its immediate take-off are being discussed” he remarked.
Meanwhile, Osatuyi said users of kerosene will soon begin to get the product as government has fully deregulated the product.
According to him, government at the beginning of the year removed subsidy on kerosene and marketers are now encouraged to import and sell to the public.
“We are now encouraged to source for foreign exchange and import and sell at prices as allowed by market forces and in the next few weeks I assure you the market will be flooded with kerosene” he assured.