Lagos - The Independent Petroleum Marketers Association of Nigeria (IPMAN),
on Wednesday commended the Federal Government over its determination
to privatise the nation’s four refineries.
IPMAN said that the government's plan would enhance the quality and supply
chain of petroleum products across the country.
Chinedu Okoronkwo , Vice-Chairman of the association, gave the commendation
in Lagos in an interview with the News Agency of Nigeria (NAN).
Okoronkwo also urged the Federal Government to ensure the accelerated
rehabilitation of the refineries, before their scheduled privatisation in 2014.
According to him, the rehabilitation of the refineries will boost their
production capacities and guarantee a sustainable supply of petroleum products
in the country.
Okoronkwo, however, commended the management of the refineries for their
efforts in sustaining the facilities, in spite of their enormous challenges.
NAN reports that there are strong indications by the Federal Government to
privatise the nation’s four refineries, which have been operating far below
their installed capacities.
The Minister of Petroleum Resources, Diezani Alison-Madueke, disclosed the
government's intention during a recent media interview in London.
She said that the Federal Government had earmarked the Warri, Kaduna and
the two Port Harcourt-based refineries for privatisation, as part of efforts to
stimulate investment in the sector.