As part of the efforts to ensure that the current high cost of foreign exchange does not plunge the country into fuel crisis, the Obasi Lawson-led Independent Petroleum Marketers Association of Nigeria (IPMAN) has entered into strategic partnership with NIMEX Petroleum Group to import 100,000 metric tonnes of petrol to sustain availability of product to IPMAN members.
In a statement released after the signing of Memorandum of Understand (MoU) with NIMEX Petroleum Group, the National President of IPMAN, Mr. Lawson Obasi said the product, which would be imported by NIMEX Petroleum Group, would be distributed to IPMAN members across the country to argument supply from Nigerian National Petroleum Corporation (NNPC) and other sources.
The IPMAN president said the partnership would go a long way to make petrol available in the country, adding that the quantum of petrol received from NNPC was not sufficient for IPMAN members.
According to Lawson, the NIMEX Petroleum Group was founded by an astute German Businessman, and a global name in the provision of solid services in the petroleum sector, Mr. Azmat Mahmoud.
“NIMEX Petroleum Group with a global footprint in more than 15 countries in Africa has garnered three decades experience in the provision of solid services in petroleum-related trading and in fostering relationships globally recognised and aimed at delivering consistent value for its patrons. It is in recognition of this global reach by NIMEX, that IPMAN has decided to partner with it in order for it to bring its huge experience to support IPMAN in capacity building in the strategic area of satisfying the growing needs of its members for availability of petroleum products,” Lawson added.
He commend the Minister of State for Petroleum, Dr. Ibe Kachikwu, and the Group Managing Director of Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru for their efforts to ensure that products are available for the consuming public in spite of the grave challenges facing the sector.
Lawson said that this strategic relationship established with NIMEX Petroleum Group would also help to improve the supply chain of petroleum product in the country.
“IPMAN has partnered Nimex Petroleum Group to import over 100,000 metric tonnes of petroleum product into the country to quash market forces and compliments government effort. With membership of well over 10,000 marketers across the length and breadth of Nigeria, IPMAN has over the years grown to control well over 87 per cent of the petroleum products retail outlets in Nigeria with a reach that auspiciously spreads to every nook and cranny of the country.This commendable spread by IPMAN members in the establishment of retail outlets across the country necessarily requires a steady supply of petroleum products in order for its positive effect to be felt both by government and Nigerians,” he explained.
Speaking on the partnership, the President of NIMEX Petroleum Group, Mr. Kanwar Ratra said his company was prepared to satisfy the yearnings of IPMAN members.
Ratra said the importation would be a continuous to support IPMAN members and lauded the leadership of IPMAN for their initiative to ensure that product is available, adding that partnership would ease scarcity.
“To this end, we assure all IPMAN members, the Federal Government and the public at large that IPMAN’s strategic relationship with NIMEX will ensure the availability of Premium Motor Spirit (PMS), Automated Gas Oil (AGO) and Dual Purpose Kerosene (DPK) in large commercial quantities to complement the efforts of the Federal Government to quench the burning thirst of our members and the public at large for these products. It will be a win-win situation for IPMAN, its teeming members, the generality of Nigerians and NIMEX,” Ratra explained.
Ratra also lauded President Muhammadu Buhari, Kachikwu, NNPC, PPMC and all those who made it possible for the IPMAN crisis to be resolved.