May 30, 2024
JUST IN: Depots owners pledge support, set agenda for President Tinubu’s govt
NIGERIA’s CBN: President Tinubu appoints Jim Obazee to probe Emefiele’s tenure
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JUST IN: Depots owners pledge support, set agenda for President Tinubu’s govt

By Eyo Nsima

The Chairman of Depots and Petroleum Products Marketers Association of Nigeria, DAPPMAN, Dame Winifred Akpani, has tasked the President, Bola Tinubu, to adopt measuring capable of ending the fuel crisis while achieving stability in Nigeria’s downstream sector.

Akpani, who visited the President in Abuja, Wednesday, said the downstream sector of the nation’s petroleum industry is currently haunted by many issues and problems, deserving urgent attention.

She said: “Our further humble request to the president is as follows:

1) that all dues and levies to government agencies particularly the NPA Plc and NIMASA be reduced to the barest minimum and payable in naira. This will drastically reduce the pressure on our foreign exchange rate, reserve and keep in check the pump price of petrol.

2) That all charges and taxes imposed by the regulator, NMDPRA as stipulated in the PIA 2021 be suspended until we achieve market stability.

3) That the 2.5% security deposit requested by NNPC Limited for all purchases be scrapped as they never overload marketers.

4) A revision of the clause in the PIA 2021 which restricts importation to only companies with active local refining licenses and /or proven track records of international crude oil and petroleum products trading.”

She added: “In conclusion, we would add that stability in the petroleum industry will ultimately lead to the much-needed energy transition. We anticipate less dependence on fossil fuels which will result in more investment and faster development of gas and electricity as alternative sources of energy.

Your Excellency, we thank you once again for this opportunity and pray that our beloved nation will experience sustainable growth and economic prosperity under your astute leadership may god bless the Federal Republic of Nigeria.”

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