The Independent Petroleum Marketers Association of Nigeria (IPMAN) at the weekend said it has started discussing with foreign partners to refine crude oil abroad and import Premium Motor Sprit (petrol) and Kerosene into the country, The Nation reports.

The Marketers plan to do this without intention to claim any subsidy payment from the Federal Government through the method.

IPMAN National Secretary Danladi Pasali, who spoke to reporters in Abuja, explained that should the Federal Government approve the intervention, it would be a temporal relief arrangement pending the improvement of the capacity of the Nigerian National Petroleum Corporation’s (NNPC’s) refineries and the construction of greenfield refining entities.

According to him, the initiative was developed by the association’s new executives to assist the present administration to reduce cost in subsidy payment at the same time meet products’ demand.

His words: “We urged the Buhari administration to support IPMAN in mobilising our foreign partners in importing petroleum products at no cost or without subsidies payment to government. We have done all our mathematics that through our new model of Crude Oil SWAP arrangement; we can wet the country with petrol and kerosene and still gain from the transactions,” Pasali said.

http://www.nigerianheadlines.com/ipman-plans-to-import-fuel-without-subsidy-payment/

good idea I think

We have done all our mathematics that through our new model of Crude Oil SWAP arrangement; we can wet the country with petrol and kerosene and still gain from the transactions

Making much sense

It is far better than the subsidy regime!

Change is here

Long over due

I never really believed Nigerian elite fear buhari... .. ... .. . But with what am seeing it obviously true

Making sense

wow!!! The fear of Buhari is the beginning self-discipline.




See what never happened during Jonathan's era

mrvitalis:
I never really believed Nigerian elite fear buhari... .. ... .. . But with what am seeing it obviously true

True

@Mods, this is a front page material

A ground breaking development and resounding breakthrough for Nigeria and Nigerians. As the head is so is the body. This plan could have been implemented but for the rottenness of corruption in jonathan's brain, such a thing could not come up. Who says Nigeria will not be great again? Let them be kept under the sand by the virtue of six feet.

Rubis:
@Mods, this is a front page material

yeah!

SimeonD:
A ground breaking development and resounding breakthrough for Nigeria and Nigerians. As the head is so is the body. This plan could have been implemented but for the rottenness of corruption in jonathan's brain, such a thing could not come up. Who says Nigeria will not be great again? Let them be kept under the sand by the virtue of six feet.

Lets see how they can pull it off. Crude oil swap? Lol. Nigerians should just get ready for fuel scarcities without subsidies.

We have done all our mathematics that through
our new model of Crude Oil SWAP arrangement;
we can wet the country with petrol and kerosene
and still gain from the transactions..




WET THE COUNTRY WITH WHAT..??
eehhhmm ikenna were is my passport.. make I check person for China.....

They have no choice than to do the math.

So it's actually possible? That means they were frustrating GEJ purposely? ? Smh

MarvellousGod:
So it's actually possible? That means they were frustrating GEJ purposely? ? Smh

who frustrated GEJ? I remembered vividly that this method was presented to him during the subsidy saga that greeted Nigeria in 2012 from all quarters,but it was rejected by him through some of his cabinets that enriched their pockets through subsidy.

Did they just acquire the mathematical knowledge yesterday?

oludashmi:
The Independent Petroleum Marketers Association of Nigeria (IPMAN) at the weekend said it has started discussing with foreign partners to refine crude oil abroad and import Premium Motor Sprit (petrol) and Kerosene into the country, The Nation reports.

The Marketers plan to do this without intention to claim any subsidy payment from the Federal Government through the method.

IPMAN National Secretary Danladi Pasali, who spoke to reporters in Abuja, explained that should the Federal Government approve the intervention, it would be a temporal relief arrangement pending the improvement of the capacity of the Nigerian National Petroleum Corporation’s (NNPC’s) refineries and the construction of greenfield refining entities.

According to him, the initiative was developed by the association’s new executives to assist the present administration to reduce cost in subsidy payment at the same time meet products’ demand.

His words: “We urged the Buhari administration to support IPMAN in mobilising our foreign partners in importing petroleum products at no cost or without subsidies payment to government. We have done all our mathematics that through our new model of Crude Oil SWAP arrangement; we can wet the country with petrol and kerosene and still gain from the transactions,” Pasali said.

http://www.nigerianheadlines.com/ipman-plans-to-import-fuel-without-subsidy-payment/

Change has come indeed!!!

If When this pulls through, the nation would be saving about a trillion naira annually which hitherto was the fuel subsidy bill. This was the exact suggestion of Prof Tam West when he asserted that Nigeria could sell petrol for N40 if it wants to. Instead of using the petroleum marketers as middlemen, the NNPC can arrange with foreign refineries to refine nigerian crude and Nigeria only gets to pay for the transport costs.

The rogue petroleum marketers know they would be rendered irrelevant very soon hence they have proactively taken this initiative to end the subsidy themselves so as to still remain in business. Haha!

oya na, shower the nation with fuel plz. am tired parking my car at home!

This is a welcome development...enough of all the parasitic middle men

I DONT UNDERSTAND IS FUEL PRICE ABOUT TO INCREASE OR REDUCE I DONT UNDERSTAND IS FUEL PRICE ABOUT TO INCREASE OR REDUCE

It's a bad idea. In fact it's worse. Why should we give crude oil to marketers to go and refine and sell to us again ? Why don't they simply buy the products and sell to us instead of swapping crude oil? This is a scam. Buhari should ban marketers from importation. Only NNPC should do the swap or purchase of products.

Billyonaire:
It's a bad idea. In fact it's worse. Why should we give crude oil to marketers to go and refine and sell to us again ? Why don't they simply buy the products and sell to us instead of swapping crude oil? This is a scam. Buhari should ban marketers from importation. Only NNPC should do the swap or purchase of products.

did you go through the entire post @ all? this is a temporary arrangement till when refineries are in full operation. besides, we only swap with the quantity of local consumption.

so when will this kick off and what will be the pump prices of these products?

Please can someone help me on how to register with the independent petroleum marketers association of Nigeria. I have a registered company and would love to invest in oil business. Please mail me if you got the answer rhiverscare@gmail.com