In December 2019, the Federal Government of Nigeria through the Minister of Petroleum for State, Chief Timipre Sylva declared 2020 as the year of gas for Nigeria. After one year of attempting to pursue this goal, the Minister at the Joint International Energy Forum and International Gas Union (IEF-IGU) Ministerial Gas Forum in Malaysia, declared the period of 2021 to 2030 as the Decade of Gas.
According to him, the government was
“pursuing programmes to grow [Nigeria’s] gas economies through the development of industrial and transport gas markets, in juxtaposition with gas-to-power initiatives.”
Speaking sometime in February this year at a public hearing of the House of Representatives on gas flaring, the Minister said, “
Vanguard News
IPMAN advises FG on petrol subsidy savings
On
Independent Petroleum Marketers Association of Nigeria
The Independent Petroleum Marketers Association of Nigeria (IPMAN) on Friday said the revenue gained from the removal of petrol subsidy should be used for free conversion of vehicles to gas and distribution of gas cylinders to Nigerians.
Mr Mike Osatuyi, National Operations Controller, IPMAN gave the advice in an interview with Newsmenin Lagos.
He said with over 200TCF proven reserves of natural gas, Nigerians would be insulated from the rising cost of crude oil at the international market if more focus was placed on domestic gas utilisation.
Osatuyi said the Nigerian National Petroleum Corporation (NNPC) has been the sole importer of petrol and few markets operating crude for refined white products under the name, Direct Supply Direct Purchase (DSDP), which negates the principle of market deregulation of the sector.
According to him, government monopolising importation of petrol has negated the principle of equal participation.
“There is a need for the government to allow other players into the market to import petrol by making forex available at CBN official rate as promised severally by the Minister of State for Petroleum, His Excellency, Mr Timipre Sylva”.
Osatuyi said: “Government announced full deregulation of PMS (petrol) in March 2020 but we witnessed price band control up to August 2020.
By Udeme Akpan & Ediri Ejoh
Barely a week after the Federal Government had slashed the price of petrol from N166 to N162.44 per litre, oil marketers continue to sell the product at between N166 and N170, according to Vanguard investigation.
The investigation showed that the oil marketers, especially members of the Independent Marketers Association of Nigeria, IPMAN, and Major Oil Marketers Association of Nigeria, MOMAN, still sell the product at the old price nationwide.
In an interview with Vanguard, weekend, Chairman of MOMAN, who also doubles as Managing Director, 11 Plc, Mr. Adetunji Oyebanji, said the reduction was not in the best interest of the downstream sector.