…IPMAN to Establish 2 Refineries
The Deputy President of the Senate, Senator Ike Ekweremadu has assured that the National Assembly would expedite action on of the Petroleum Industry Bill, PIB.
Senator Ekweremadu gave the assurance when he received a delegation of the newly elected National Executive Council of the Independent Petroleum Marketers Association of Nigeria, IPMAN, paid a courtesy visit to his office at the National Assembly, Abuja, today.
He said that the Senate was mindful of the benefits of the PIB to Nigerians and those in the petroleum sector and would work to enthrone the envisaged major reforms intended by the bill.
He said: “I would like to use this opportunity to assure you that progress is being made regarding the Petroleum Industry Bill. We are committed to passing the Petroleum Industry Bill because we believe that it is going to bring major reforms in the industry. We want to solicit your patience and also your support towards passing it.
“We are hoping that very shortly our Committee will bring forth the report of the bill and we are going to give it an accelerated hearing so that Nigerians and those who are in the industry will begin to have the benefits of reforms intended by this bill.”
Senator Ekweremadu who urged IPMAN to remain patriotic and ensure steady supply of petroleum products to Nigerians given the enormous dependence of businesses on the downstream sector of the petroleum industry, also implored them to be security conscious in their operations saying that, the task of securing the country involves all.
Earlier, the leader of the delegation and National President of IPMAN, Elder Chinedu Okoronkwo assured that IPMAN was committed to stability in the downstream sub-sector of the petroleum industry.
He said IPMAN would stabilize petroleum products supply at the official rate adding that the new leadership of IPMAN planned to establish two refineries in Kogi and Bayelsa States to further boost the nation’s economy.
He added: “The only way we can think of building capacity in the downstream is to build refineries; and as I speak, we have concluded plans to build two refineries; one in the northern part of Nigeria and another in the southern part of Nigeria. It is strategic because when we thought about the capital flight, the enormous money spent on importation of petroleum products, we believe that as a responsible organisation, the current IPMAN administration must take up the challenge of refining this crude oil in Nigeria”
The National President solicited the support of the Senate in securing approval from relevant government agencies for the refinery projects, noting that dependence on imported refined petroleum products was harmful to the nation’s economy.
