Business
Association Faults NNPC’s Sole Importation Of Petroleum Products
The Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) says the Nigerian National Petroleum Corporation (NNPC), should not be the sole importer of petroleum products, as this has negatively impacted the industry.
DAPPMAN’s First Vice-Chairman, Hajia Amina Maina, made the remark yesterday at the ongoing 13th Oil Trading and Logistics (OTL Africa Downstream) Conference in Lagos.
She spoke during the session on “Depots, Pipelines and Fleets – Policy and Operations for Sustainable Downstream Assets and Infrastructure.”
Maina said that NNPC’s involvement in importation ought not to be more than 30 per cent, with the private sector sharing the remaining 70 per cent among themselves.
She noted that the policy had negatively impacted the downstream sector, with only about 55 depots out of the over 200 currently functioning at optimal capacity.
Maina, who is also the Chief Operating Officer, MRS Holdings Limited, said the situation had led to job losses in the industry, while some of the companies were still struggling to offset their financial obligations to banks.
He said: “There must be enabling environment for private sector to come back into the industry. It is a known fact that the private sector is more efficient than the government sector.
“NNPC should take a back step and allow the private sector to take the lead in the industry.”
According to her, the position of DAPPMAN is that the industry must be in line with global best practices, to attract investors.
She said policy changes by subsequent governments had continued to discourage the much desired investment in the downstream sector, which would create more employment for Nigerians.
“Government should understand that within the value chain of the downstream sector, everyone can play a different role for the benefit of the country,” Maina said.
She noted that the government, rather than being a competitor, should focus on providing the enabling environment and regulatory framework that would improve collaboration with the private sector, to address the challenges facing the sector.
Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.
Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.
The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.
Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.
“I did my best and I am happy for this performance,” said Sawe.
“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”
Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.
In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.
Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.
Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.
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