FILE PHOTO: A construction worker assists with moving building materials on a lift at the Dangote Oil Refinery under construction, in Ibeju Lekki district, on the outskirts of Lagos

FG urged to improve capacity of refineries, end fuel importation

The Independent Petroleum Marketers Association of Nigeria (IPMAN), has urged the Federal Government to improve efforts in ensuring enhanced capacity of the refineries in the country and depots to end fuel importation. Alhaji Debo Ahmed, Chairman Western Zone, IPMAN, gave the advice in an interview with the News Agency of Nigeria (NAN) on Friday in […]

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Petrol Marketers’ wants importation exchange rate set at ₦240 per USD

Petrol marketers are insisting on the exchange rates of not more than ₦240 per dollar to import and recoup their investment, the Independent Petroleum Marketers Association of Nigeria (IPMAN) National Operation Controller, Mr. Mike Osatuyi, has said. He said the body has met the Federal Government on the issue, noting that foreign exchange (forex), especially […]

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Pump prices of Petrol hits ₦160 per litre at depots in Lagos

Despite the repeated assurance by the Nigerian National Petroleum Corporation (NNPC), that it has not increased its petrol ex- depot price from ₦133.80k, correspondent findings across some depots in Apapa proved otherwise. Some marketers who spoke to correspondent under the condition of anonymity, said the price of petrol received from NNPC as Wednesday was ₦160 […]

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NNPC retains position as Nigeria’s only importer of fuel – minister

The meeting between the Minister of State, Petroleum Resources, Dr Ibe Kachikwu and oil marketers in Abuja yesterday on how to end the recurring fuel scarcity challenge ended with a firm resolution that the Nigerian National Petroleum Corporation (NNPC) remains the sole importer of petrol. Another major takeaway from the meeting was that the price […]

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Court of Appeal declares Okoronkwo IPMAN president

An Appeal Court sitting in Abuja has declared Elder Chinedu Okoronkwo as the President of the Independent Petroleum Marketers Association of Nigeria (IPMAN). A statement issued after the National Executive Meeting (NEC) in Abuja yesterday, by the National Secretary of IPMAN, Alhaji Danladi Passali, quoted him as saying that the judgment remained a welcome development […]

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Marketers’ kicks against selling petrol at ₦145/litre pump price

The Chairman of Depot and Petroleum Marketers Association of Nigeria (DAPMAN), Mr. Dapo Abiodun, yesterday, told the Federal Government that petroleum marketers could no longer sell petrol at ₦145 per litre. Abiodun stated this in Abuja at a stakeholders’ meeting convened by the Federal Government to find a lasting solution to the recurrent and persistent […]

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DAPPMA: We supply you products despite your ₦26.7 billion debt, says NNPC

The Nigerian National Petroleum Corporation (NNPC) has described as very unfortunate a statement credited to the Depot and Petroleum Products Marketers Association (DAPPMA) on the fuel supply situation, especially Premium Motor Spirit (petrol). NNPC wishes to affirm that it has supplied appreciable volume to DAPPMA, Major Marketers Association of Nigeria (MOMAN) and Independent Petroleum Marketers […]

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Nigerian National Petroleum Corporation, NNPC headquarters are seen in Abuja

Yuletide: NNPC diversion of fuel through DAPMAN likely to cause scarcity – IPMAN

The Lagos State chapter of the Independent Petroleum Marketers Association of Nigeria (IPMAN), led by its Chairman, Alhaji Alanamu Balogun, last week, threatened to withdraw its services across Lagos State and parts of Ogun State, effective December 11, due to irregular fuel supply at NNPC’s Ejigbo satellite depot. It said over 900 filling stations will […]

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IPMAN, NNPC clash over annual N125,000 BPA fee

Nigeria may soon face another round of fuel scarcity as the South West branch of the Independent Petroleum Marketers Association of Nigeria (IPMAN) has threatened to withdraw its members’ services over the introduction of Bulk Purchase Agreement (BPA) fee by the Nigerian National Petroleum Corporation (NNPC). The association, which gave this indication yesterday lamented that […]

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IPMAN, NIMEX partner to import 100,000mtons of petrol

Petroleum sector pressure group,the Independent Petroleum Marketers Association of Nigeria (IPMAN) has commenced a strategic partnership with NIMEX Petroleum Group for effective importation of petroleum products to complement efforts of the Federal Government in driving the deregulation policy. National President, of the IPMAN Mr Obasi Lawson who stated this after signing a Memorandum of Understand […]

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IPMAN dismisses fuel diversion accusation by Minister Kachikwu

The National President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Chief Obasi Lawson, has dismissed the allegation of the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, that marketers are diverting fuel to neighbouring countries. Speaking yesterday in Port Harcourt, the Rivers State capital, while inaugurating Ben Dumbari Dimkpa as the Eastern […]

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IPMAN to stop unfair product sharing formula

THE Independent Petroleum Markets Association (IPMAN) has threatened to stop operation if the Nigeria National Petroleum Corporation (NNPC) refused to regularise the perceived imbalances in the sharing and distribution formula of petroleum to marketers. These were part of the resolutions reached at the end of an IPMAN stakeholders meeting yesterday in port Harcourt, the Rivers […]

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