Marketers flay plan merger of oil sector agencies
By Tanko Mohammed
The rumour of the plan to merge some of the agencies in the oil and gas sector to cut cost has incurred the wrath of the Independent Petroleum Marketers Association of Nigeria (IPMAN).
The Association has decried the proposed merger of three agencies in the petroleum industry.
The agencies are: Petroleum Technology Development Fund (PTDF), Petroleum Products Pricing and Regulatory Agency (PPPRA) and Petroleum Equalisation Fund (PEF).
Alhaji Suleiman Yakubu, National Public Relations Officer of IPMAN, that the association may not function effectively in fuel distribution if the proposed merger of three agencies took place.
He said IPMAN’s main concern was that: “PEF is an independent body and it should continue to be like that.”
Yakubu said that PEF had collaborated with stakeholders to ensure prompt settlement of marketers’ claims and enhance distribution of petroleum products.
“They also make the products available at reasonable cost nation-wide,” he said.
He said that PEF had also computerised structure, built data and information bank for accuracy on the level of lifting and distribution of petroleum products in the country.
Yakubu stated that PEF’s source of fund was from the net surplus revenue recovered from the oil marketing companies.
“IPMAN wants PEF to continue supporting its members,” he said.