The Independent Petroleum Marketers Association of Nigeria has applauded President Bola Tinubu for his decision to readjust the leadership of the Nigerian Midstream and Downstream Petroleum Regulatory Authority and the Nigerian Upstream Petroleum Regulatory Commission, describing the move as critical to strengthening regulation in the oil and gas sector.
The IPMAN National President, Alhaji Abubakar Maigandi Shettima, stated this on Thursday in Abuja while reacting to recent developments in the oil and gas sector, including the growing partnership between the association and the Dangote Petroleum Refinery.
Recall that on Wednesday, Nigeria’s petroleum sector was thrown into fresh uncertainty, following the resignation of the Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority, Farouk Ahmed, and his counterpart at the Nigerian Upstream Petroleum Regulatory Commission, Gbenga Komolafe, amid the deepening controversy triggered by allegations and a petition filed by the President of the Dangote Group, Aliko Dangote.
The Presidency announced the resignations of the two regulators on Wednesday, a development widely seen as fallout from the escalating dispute between the Dangote refinery and the NMDPRA over fuel importation, pricing, and regulatory oversight in the downstream sector.
Reacting, the IPMAN president said the leadership reset has helped restore confidence and clarity in the oil and gas sector.
He said, “The focus of the Dangote & IPMAN partnership has always been geared towards making life better for Nigerians. And of course, this blooming partnership would never have been possible without the pragmatic leadership of President Bola Ahmed Tinubu, and his sound judgment in readjusting the leadership of the NMDPRA and the NUPRC.”
Shettima said the association’s long-standing position remains that Nigeria must deepen domestic refining to end the importation of petroleum products, warning that fuel imports should not coexist with local refinery.
He further warned that continued importation of petroleum products poses a serious threat to Nigeria’s economy, insisting that domestic refining remains the only sustainable path to energy security, job creation and foreign exchange stability.
“Our position has always been to deepen domestic refining to eradicate imports of petroleum products. Continuous import is NOT an acceptable parallel business model because issuing import licenses recklessly distorts market dynamics, drains foreign exchange, enthrones poverty, destroys jobs, and scares potential investors away.”
Shettima said the collaboration was driven by a shared objective of improving the welfare of Nigerians through affordable fuel supply, local value creation and reduced dependence on imports.
“The focus of the Dangote and IPMAN partnership has always been geared towards making life better for Nigerians,” he said.
Shettima reaffirmed IPMAN’s commitment to supporting local refineries, noting that independent marketers play a critical role in ensuring nationwide fuel distribution and market stability.
He said a functional domestic refining ecosystem would not only lower logistics costs but also stabilise pump prices, reduce pressure on the naira and create thousands of direct and indirect jobs across the downstream value chain.
According to him, clarity and consistency in regulation remain crucial to sustaining investor confidence and preventing policy reversals that could weaken the gains recorded so far.
More details soon…
