The Independent Petroleum Marketers Association of Nigeria (IPMAN) has commended the federal government for passing the Petroleum Industry Bill (PIB) because it would benefit industry players, the government and the people.
Alhaji Yakubu Sulaiman, the Public Relations Officer, (PRO) of IPMAN, who gave the commendation in an interview on Saturday, in Abuja, said that IPMAN was in support of the bill and all its provisions.
Similarly, he commended both chambers of the National Assembly for making true their promise to pass the bill.
He said that the bill would make for an open oil market, attract foreign investors, the oil industry would be improved, the communities, where the oil comes from, would enjoy and the economy would be improved.
“We are happy that the Petroleum Equalisation Fund (PEF) was not scrapped, because PEF has a lot of dealings with marketers and the future of oil and gas in particular.”
Suleiman said that the PEF was a nice back up plan for gas expansion and the national gas policy.
TBI Africa reports that the bill was passed on Thursday by the Senate, after several years.
