*Calls for revival of all moribund refineries in Nigeria
The new Dangote refinery will address issues of fuel shortages and price hikes in the country, the Independent Petroleum Marketers Association of Nigeria (IPMAN) has said.
Chairman of IPMAN, Enugu Community depot in charge of Anambra, Ebonyi and Enugu states, said in an interview that the 18.5 billion dollar Dangote refinery, with 650, 000 barrel production capacity which was inaugurated by President Muhammadu Buhari on Monday, will go a long way in repositioning the country’s economy..
Anyaso however envisaged an initial increase in fuel pump price, but said it would decrease in the long run.
“They will buy locally, refine and sell locally and we will no longer need forex to import products but rather, it will sell refined products and earn us forex.
“It is a welcome development,” he said.
The IPMAN chairman urged the Federal Government to revive its four refineries and optimise their production to support what Dangote would produce, to ensure full sufficiency of the products.
He thanked the President Muhammadu Buhari administration for signing the Petroleum Industry Act (PIA) which encouraged private sector investment in the oil and gas industry.
Anyaso cautioned against monopoly, saying it would leave Nigerians worse off if left at the mercy of one supplier.
“We need more players to come in because the market is there, so there should be competition; the Federal Government should ensure a monopoly is not created.
“The PIA which this administration graciously signed encourages private sector involvement, people who have the capacity should be encouraged to follow the Dangote example,” he added.
Anyaso called for revitalisation and operationalisation of all moribund depots, including that of Enugu for easy distribution of petroleum products.
He said this would reduce the challenges of sourcing products and drive down prices.
