The Independent Petroleum Marketers Association of Nigeria (IPMAN) has lauded President Bola Tinubu for his strategic decision to realign the leadership of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), describing it as a crucial step toward strengthening oversight and regulation in the nation’s oil and gas sector.
IPMAN National President, Alhaji Abubakar Maigandi Shettima, made the remarks on Thursday in Abuja while reacting to recent developments in the petroleum industry, including the growing partnership between IPMAN and the Dangote Petroleum Refinery.
The Nigerian petroleum sector was thrown into fresh uncertainty on Wednesday following the resignations of Farouk Ahmed, Chief Executive of the NMDPRA, and Gbenga Komolafe, CEO of the NUPRC. Their departures were widely interpreted as a response to the escalating controversy sparked by allegations and a petition filed by Dangote Group President Aliko Dangote concerning fuel importation, pricing, and regulatory oversight.
Shettima said the leadership reset has helped restore confidence and clarity in the sector.
“The focus of the Dangote–IPMAN partnership has always been to make life better for Nigerians. This growing collaboration would not have been possible without the pragmatic leadership of President Bola Ahmed Tinubu and his sound judgment in realigning the leadership of the NMDPRA and NUPRC,” he said.
Reaffirming IPMAN’s long-standing stance, Shettima emphasized that Nigeria must expand domestic refining capacity to eliminate reliance on imported petroleum products. He warned that continuing fuel imports alongside local refining threatens the country’s economic stability.
“Domestic refining is the only sustainable path to energy security, job creation, and foreign exchange stability,” he stated.
Shettima highlighted that the partnership between Dangote and IPMAN is anchored on improving the welfare of Nigerians through affordable fuel, local value creation, and reduced dependence on imports.
He stressed that independent marketers play a pivotal role in ensuring nationwide fuel distribution and market stability.
According to the IPMAN president, a fully functional domestic refining ecosystem would lower logistics costs, stabilise pump prices, reduce pressure on the naira, and create thousands of direct and indirect jobs across the downstream value chain.
He added that clarity, consistency, and predictability in regulation are essential to sustaining investor confidence and preventing policy reversals that could undermine progress in the oil and gas sector.
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