Deregulation: IPMAN, NIMEX Petroleum to import 100,000MT of petrol

The Independent Petroleum Marketers Association of Nigeria (IPMAN) said it has entered into a strategic partnership with NIMEX Petroleum Group to import 100,000 metric tonnes (MT) to complement deregulation policy of the Federal Government.

This is contained in a statement issued and signed by its National President, Mr Obasi Lawson, after it signed a Memorandum of Understand (MoU) with NIMEX Petroleum Group.

It stated that NIMEX Petroleum Group will import the products, while IPMAN will distribute the products nationwide.

The IPMAN boss stated in the statement that the aim is to ensure products availability across the country because allocations from the NNPC is insufficient for its over 10,000 members.

IPMAN commended the Federal Ministry of Petroleum Resources and the Minister, Dr Ibe Kachikwu, and Dr Maikanti Baru, the Group Managing Director of Nigerian National Petroleum Corporation (NNPC) for their efforts in ensuring that products are available for the consumers.

“With membership of well over 10,000 marketers across the length and breadth of Nigeria, IPMAN has over the years grown to control well over 87 per cent of the petroleum products retail outlets in Nigeria with a reach that auspiciously spreads to every nook and cranny of the country.

“This commendable spread by IPMAN members in the establishment of retail outlets across the country necessarily requires a steady supply of petroleum products in order for its positive effect to be felt both by government and Nigerians.

“The NIMEX Petroleum Group was founded by Azmat Mahmoud, an astute German Businessman, a global name in the provision of solid services in the petroleum sector. The Group has a global footprint in more than 15 countries in Africa and it has garnered three decades of experience in the provision of solid services in petroleum-related trading and in fostering relationships globally recognised and aimed at delivering consistent value for its patrons.

“It is in recognition of this global reach by NIMEX, that IPMAN has decided to partner with it in order to bring its huge experience to support IPMAN in capacity building in the strategic area of satisfying the growing needs of its members for availability of petroleum products,” the statement read.