IPMAN accuses FG of monopolising petroleum downstream sector

IPMAN accuses FG of monopolising petroleum downstream sector

The Independent Petroleum Marketers Association of Nigeria (IPMAN), on Friday, December 25, stated that the federal government was enforcing monopolistic deregulation of the petroleum downstream sector instead of total exercise.

This was contained in a statement issued by the National Operations Controller of IPMAN; Mr Mike Osatuyi.

Osatuyi said the government had not allowed market forces to determine the petroleum pump price.

Osatuyi said the Nigerian National Petroleum Corporation (NNPC) has been the sole importer of petrol; as well as few markets operating crude for refined white products under the name, Direct Supply Direct Purchase (DSDP); which negates the principle of market deregulation of the sector.

He further said the monopolising of petrol importation negates the principle of equal participation.

“There is a need for the government to allow other players into the market to import petrol by making forex available at CBN official rate as promised severally by the Minister of State for Petroleum, His Excellency, Mr Timipre Sylva”.

Osatuyi said: “Government announced full deregulation of PMS (petrol) in March 2020. But we witnessed price band control up to August 2020.

“From September, the price band control was withdrawn with the hope that full deregulation will surface but what we have been experiencing now is monopolistic deregulations.”

Meanwhile, the All Progressives Congress on Thursday, December 24, inaugurated a case of alleged certificate forgery against Governor Godwin Obaseki of Edo State at the Federal High Court in Abuja.

1st News reports that the case opened before Justice Ahmed Mohammed after Obaseki’s failed bids to have the court and the Court of Appeal halt the hearing; pending the determination of an appeal he had filed in respect of the case.

According to the ruling, pre-election cases such as the one instituted against Obaseki were time-bound; therefore, they could not be halted based on an interlocutory appeal.

The APC and one of its members, Mr Williams Edobor, had filed the suit; urging the court to disqualify Obaseki as the Peoples Democratic Party’s candidate in the last governorship election in Edo State.

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They anchored their suit on the grounds that Obaseki allegedly forged a University of Ibadan degree certificate; which he used in securing his candidacy in the election.

Other defendants sued in the suit are the PDP and the Independent National Electoral Commission.

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