Fuel price will crash – IPMAN lauds Tinubu govt over latest decision

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has commended the present administration under President Bola Ahmed Tinubu for approving the importation of petroleum products by private firms.

Mr Chinedu Anyaso, Chairman of IPMAN Enugu Depot Community, in charge of Anambra, Ebonyi and Enugu States, said this while reacting to the development in Awka on Sunday.

Recall that the Managing Director of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Farouk Ahmed, on Friday said private marketers could now import petrol into the country.

Farouk said under the new arrangement, the NNPCL had ceased to be the sole importer of petrol into Nigeria, adding that this was a positive development and an appropriate response to the demands of marketers and Nigerian masses, who had condemned the monopolistic grip of NNPCL on the oil and gas sector for decades.

He said this would create the much-needed competitive pricing environment and allow market forces to demand the price of products.