Fuel Importation: IPMAN Lauds FG For Listing 42 Firms

The Rivers State chapter of Independent Petroleum Marketers Association of Nigeria (IPMAN), has lauded the Federal government for shortlisting 42 oil marketing companies for importation of Premium Motor Spirit (PMS) in the second quarter of this year.

Its chairman, Chief Samuel Owura Osareoejor told The Tide in Port Harcourt last Thursday that the Nigeria National Petroleum Corporation (NNPC) alone cannot import enough PMS (Petrol) for all Nigerians, hence  the need to bring in other players.

According to Osaroejor, the move is commendable as it would make the product available to Nigerians thereby alleviating the untold hardship its scarcity is causing the masses.

It would be recalled that the Petroleum Products Pricing Regulatory Agency (PPPRA), a subsidiary of NNPC recently shortlisted 42 oil marketing firms to import 4,794,075,000 litres of petrol in the second quarter of this year.

The Executive Secretary of PPPRA, Reginald C. Stanley said the 42 companies include all the major oil marketers, Oando, Total, Mobil MRS, Conoil, Forte Oil (formerly African Petroleum) and prominent independent marketers like Aiteo, Capital Oil, Folawiya IPMAN, NIPCO, Sahara Energy, Integrated and Ascon Oil.

Stanley noted that the shortlisted companies were found efficient and that issuance of import allocation would be based on performance.

In line with the statutory mandate of the PPPRA, as provided in the PPPRA Act No.8 of 2003, which among others regulate the supply and distribution of petroleum products nationwide, the PPPRA has issued permits to 42 eligible marketers for the supply of 3,575,000 MT (4,794,075,000 litres) of premium motor spirit (PMS), the PPPRA scribe noted.

He added that marketers’ past performance and their ability to secure the needed finance would determine the volume to be supplied into the system.

Stanley warned marketers, to adhere strictly to the regulatory requirements for the importation of fuel and ensure that the product was discharged and distributed in the country accordingly.

His words: “The title of the permit resides with the beneficiary company and shall not be assigned to third party under any circumstances. All imports at the point of tendering notices of arrival and readiness (NOA & NOR) must be accompanied with letter of credit, performance invoice and form M among several requirements”.

Vivian – Peace Nwinache