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IPMAN To Build Own Refinery (Posted Dec 2000) Tell your friends about this page! Email it to them. 

Activities of independent petroleum marketers in Nigeria recently received a boost when the federal government gave them approval to establish their own refinery. This was recently disclosed in Abuja by Bestman Anakwe, the national president of Independent Petroleum Marketers Association of Nigeria, IPMAN, when members of the North - Eastern zone of the association paid him a courtesy visit. Anakwe explained that already, the feasibility study of the refinery project which would be sited in Abuja, Nigeria's capital city, had been commissioned in order to determine its cost.

The IPMAN president added that the association also intends to build its National Headquarter in the capital city, Abuja. He also explained that his association has nothing against the petroleum equalisation Fund (PEF), as was being speculated in some quarters. Instead, he said his members where in fact being fairly treated by the fund in the settlement of their claims. Adding that what IPMAN, is doing is to assist the fund to see that bridging of petroleum products in the country was well-organised to ensure that no part of the country is starved of supply of the products.

Anakwe argued that members of IPMAN control about 62 per cent of the retail outlets in Nigeria and as such should be given more allocation of the products instead of the present 50-50 share arrangement that is being run between them and the major marketers. He further stressed that the shortfall in the allocation of petroleum products to his members is in fact a major factor responsible for the persistent fuel scarcity in many parts of Nigeria and not smuggling of the products as is being alleged.

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