No Compromise on The Existence, Appointment of PEMFB As Fund Managers For GAS Expansion Program – IPMAN Tells FG



The Oasis Reporters


February 21, 2021



By Mike Odeh James




The Independent Petroleum Marketers Association of Nigeria, IPMAN has made a strong case for inclusion of the Petroleum Equalization Management Fund Board, PEMFB to be the Fund Managers for the Proposed Gas Expansion Program.

In a joint statement signed by Elder Chinedu Okoronkwwo and Alhaji Danladi Pasali, IPMAN said also commended the efforts of the Ahmed Bobboi led PEFMB for its role in funding the Gas Expansion Program in collaboration with IPMAN members .

According to the statement which was released last week, “IPMAN resolved unequivocally to support the Petroleum Equalization Fund Management Board (PEFMB) efforts to collaborate with our members in funding the Gas Expansion Programme.

The management of IPMAN also insists on PEMFB to be the Manager of the Gas Expansion Program in the Petroleum Industry when the Petroleum Industry Bill, PIB comes to fruition .

Furthermore, it advised that the capacity of the PEMFB be robustly enhanced in order for it to discharge its functions effectively.

IPMAN further added that in order to maintain the constant affordability and petroleum products, the existence of PEMB must be protected.
The statement therefore warned that IPMB won’t compromise on PEMFB existence.

“Also, the PIB must enhance the capacity of the PETMB acclaimed fund Managers of the Industry to implement the proposed Gas Expansion Programmes to ensure affordability and availability of products.

“The IPMAN will not compromise on the existence of the PEFMB because of its importance to the economic development of the country in matters of price stability”, the statement added.



Abridged Statement From IPMAN





Resolution of the meeting of the IPMAN Central Working Committee (CWC) held at the Porto Golf Hotels, Kano state on the 12th and 13th February, 2021



Following two days of exhaustive deliberations the Board of Trustees (BOT) and the Central Working Committee (CWC) on critical issues relating to the operation of the Independent Petroleum Marketers Association of Nigeria (IPMAN) in the downstreams sector and its collaboration with Stakeholders, the following were agreed to and adopted.


IPMAN has commended the Directors of DPR, NNPC and PEF respectively for sending senior officers to represent them at our Central Working Committee meeting held in Kano.


IPMAN is in full support of the proposed full deregulation of the downstream sector of the Nigeria economy. However, necessary palliatives should be put in place to alleviate the impact on the populace as reformed by the PEF.


3A. IPMAN supports the Federal Government’s policy on the National Gas Expansion Programmes (NGEP) which will deepen the use of both liquefied Petroleum Gas (LPG) and Auto Gas Compressed Natural Gas (CNG)


3B. IPMAN is in support of the quick passage of the Petroleum Industry Bill (PIB) by the National Assembly with the inclusion of IPMAN representatives on the Board of all relevant Agencies to protect the interest of members and the public as it is today on the board of PPPRA.


4. IPMAN resolved unequivocally to support the Petroleum Equalization Fund Management Board (PEFMB) efforts to collaborate with our members in funding the Gas Expansion Programme. Also, the PIB must enhance the capacity of the PETMB as acclaimed fund Managers of the Industry to implement the proposed Gas Expansion


Programmes to ensure affordability and availability of products. The IPMAN will not compromise on the existence of the PEFMB because of its importance to the economic development of the country in matters of price stability.

5. IPMAN appreciates the readiness of the Nigeria National Petroleum Corporation(NNPC) to supply Gas to IPMAN members directly and continuous supply of petroleum products using the latest technology and ensuring best practices in its operations.


6. IPMAN is in total support of the Department of Petroleum Resources (DPR) as it relates to be Downstream

Remote Monitoring System (DRMS) especially as it recognized Nigeria Legal Diversion of Petroleum Product (NLDPP) within licensed IPMAN members and stop all Illegal Diversions.

7. DPR is requested to support IPMAN with Marginal Oil Field/DSDP directly to enable her construct modular Refineries.

8. The CWC is composed of the National Executive Committee, Zonal and Depot Chairmen/Secretaries of IPMAN from all Depots in Nigeria.


Greg Abolo

Blogger at The Oasis Reporters.

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