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Why We Shut Down PHRC, PPMC

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Operations of the Petroleum Downstream Sector in Rivers State  got ruffled last week, following a face-off between the Independent  Petroleum Marketers Association (IPMAN), the management of the Port Harcourt Refining Company (PHRC) and the Petroleum Products Marketing Company (PPMC).
Problem started when the leadership of IPMAN mobilised its members last Wednesday to stage a peaceful protest at the premises of the PHRC and PPMC in Port Harcourt to register their discontent over perceived institutional breaches and  inefficiencies on the part of the companies to discharge their statutory functions.
The protest which commenced in  the early hours of Wednesday, last week, shut down the operations of the two federal agencies, as the aggrieved IPMAN members barricaded the entrances to the two companies with placards of varying inscriptions to press home their demands. Some of the placards read thus: “Diversion of our products is a crime,” “Private depots owners steal “PPMC products with the backing of NNPC staff,”  “We want products not excuses, “ PHRC, PPMC encouraging illegal bunkering.”
Since then Motorists and other users of petroleum products have been thrown into a state of apprehension and panic over a looming fuel scarcity following the shutdown and the threat of IPMAN and other related organisations to down tool if the PHRC and PPMC failed to heed their demands.
But IPMAN has insisted that its actions as a body was justifiable as it was billed to expose the sharp practices in the sector which have undermined their business concerns and service delivery to the public.
The major bone of contention, according to the IPMAN leadership, is that for over two years now, the PHRC and PPMC have failed to produce AGO(diesel)or DPR(kerosine) thereby making the independent marketers to depend on adulterated diesel (kpoofire) to fuel their haulage trucks before they could load the “imported PMS((Petrol) made available at the deport.”
This tendency, according to the IPMAN leadership, was an indication that PHRC and PPMC were encouraging illegal bunkering.
Rivers State Chairman of lPMAN, Comrade Emmanuel Inimgba, who spoke with The Tide in an exclusive interview prior to the protest, disclosed that the dependence of the independent marketers on adulterated diesel  to fuel their trucks in the loading of products was destructive on the engines and also exposed them to health dangers and other associated hazards.
The Rivers IPMAN said petroleum products sent from Lagos and Warri to Port Harcourt were diverted to private depots in Port Harcourt which are mostly owned by PPMC and NNPC management, and thus deny the independent marketers acces to the products at PPMC depot in Port Harcourt.
He said; “For more than two years now we haven’t been loading any products apart from imported PMS, we don’t have access to diesel and kerosene and we are constraint to depend on illegally refined products to power our loading  trucks. This has resulted in very high cost of operation on our part and affected the delivery of our services to the public, we are not going to load from those private depots where our products are diverted to until the products are supplied to the right depot.”
Comrade lnimgba who described the operations and services of IPMAN as capital intensive, said most of the independent marketers obtained loan facilities from banks to run their businesses and as such were under tight obligation to pay back the funds.
He regretted the perceived “indifference” of the regulatory agency in the Petroleum industry, i.e the  Department of Petroleum Resources (DPR) which according to him seem to gloss over the anomalies in the activities of the downstream sector in Rivers State despite several overtures made by IPMAN and other affected stakeholders to address the rising challenges.
He pointed out that the protest was to expose the; “shoddy deals going on in the down stream sector and to bring to the fore the sad experiences of the independent marketers.”
He called on the  DPR to live up to its statutory responsibilities by creating the enabling environment and ensuring transparency in the process, especially in products availability, arbitrary increase in prices of products and renewal operational licenses.
Comrade lnimgba also raised concern over the growing spate of insecurity against the investment of the independent marketers, noting that filling stations have become targets of  incessant robbery, especially in the night.
While applauding the Rivers State Governor for his efforts in promoting the security of lives and properties in the state, he appealed to the government to create a special police division to protect  the investments of the independent marketers to enable them render services to the public with relative ease.
“ Filling station owners have become endangered species, we can’t sell at night without threats of robbery attack.
The use of POS has helped to an extent but we want the government to come to our aid by creating a special police division to protect our operations. This will go a long way to address the challenges of insecurity we are experiencing,” he stated.
The IPMAN chairman also commented on the state of refineries in the country, particularly the Port Harcourt Refinery which he said was  completely dysfunctional.  He called on the Federal Government to fix the ailing refineries and make them effective in product delivery.
Apart from revamping the existing refineries, he said the Federal Government should also make real its promise of building  modular refineries in the Niger Delta Region so as to give the people of the oil rich region a sense of active participation in the oil and gas industry as well as enhance massive economic growth and expansion in the industry.
He contended that the  building of modular refineries in the Niger Delta would address the issues of unemployment and other social vices among the youth.
He said;  “when modular refineries are created in the Niger Delta, most youths who engage in illegal bunkering will channel their talents and energies in a more positive way as their technological  capacities will be fully  developed.”
Comrade Inimgba said that existing policies in the Nigeria oil and gas sector were tailored to the disadvantage of the Niger Delta people. He regretted that despite the enormous contributions of the region to the development of national economy the region still suffered huge development neglects.
He, therefore, called for a review of Nigerias’ petroleum laws to reflect the  imperatives of justice by giving the people of the Niger Delta assess to their natural resources for the development of the region.
“I want to  correct the erroneous impression that the people of the Niger Delta are not fit to play roles in the oil and gas industry, we have qualified technologists and technocrats in the Niger Delta. We want the Federal Government to allocate oil blocks to indigenes of the Niger Delta, this will give the people a sense of belonging, create direct development impact in the region and correct the imbalances in the oil and gas sector. “
The lPMAN chairman was also irked over the issue of pipeline vandalisation and explosions which had become a recurrent event in the Niger Delta region, resulting in wastages of lives and revenue.
He said IPMAN as a body was totally against pipeline vandalisation which is considered as sabotage, adding that the association has contributed its quota towards addressing the menace, such as constitution of special anti-pipeline vandalisation committee with the mandate to  work with relevant stakeholders to address the endemic vice.
He pointed out that the issue of pipeline vandalisation can not be tackled on a shallow bases except the root cause is addressed.
“IPMAN  as a body condemns pipeline vandalisation in its entirety, it’s a menace that have brought incalculable losses as people are killed in the process while revenue is lost.These pipelines pass through communities, the government should liase with communities on the surveillance and security of the pipelines. Also, obsolete oil pipelines in the Niger Delta should be replaced to avoid leakages and possible explosion,” he said.
Speaking on the activities of multinationals corporations and International Oil and Gas Companies (IOCS) in the Niger Delta, the oil and gas expert described the modus operandi of most of the companies as “defective and bereft of international best Practices.”
He expressed disappointment over the fact that “ most of the companies operating  in the Niger Delta deny the people employment quotas or simply  engage them without stipulated employment policies or condition of service and subject them to  slave labour and caualisation.”
He also kicked against the relocation of the corporate  headquarters of the multinationals from the Niger Delta to Lagos on the excuse of insecurity, saying that such excuses were calculated ploys to slight the region economically.

 

Taneh Beemene

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CBN Predicts 4.17% GDP Growth In 2025

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The Central Bank of Nigeria (CBN) has announced that the 2025 economic indices indicate a positive outlook, with the nation’s GDP expected to accelerate to 4.17 per cent for faster economic growth.

Mr Muhammad Abdullahi, Deputy Governor, Economic Policy Directorate, CBN, revealed this on Tuesday during the 11th edition of the National Economic Outlook: Implications for Businesses in 2025.

The hybrid event, convened in Lagos, was organised by the Chartered Institute of Bankers of Nigeria (CIBN) Centre for Financial Studies in collaboration with B. Adedipe Associates Ltd.

Abdullahi said the nation’s 2025 economic projections remained optimistic with fiscal and monetary reforms already paying off, resulting in the GDP anticipated rise from 3.36 per cent recorded in 2024.

According to him, the growth is anchored on sustained implementation of government reforms, stable crude oil prices, and improvements in domestic oil production.

Abdullahi also stated that stability in the exchange rate would play a crucial role in maintaining the positive trajectory, with the inflation rate projected to decline due to the impact of economic reforms.

“Achieving the targeted inflation rate of 15 per cent in 2025 will require effective collaboration between monetary and fiscal authorities, alongside private sector participation for a stable economic environment,” he said.

The keynote speaker said that the apex bank would prioritise price stability and strengthen the financial sector to support SMEs and critical sectors for businesses to thrive.

Abdullahi noted that the nation’s evolving policy landscape presented both challenges and opportunities for businesses to thrive.

“The government is making deliberate strides to diversify its revenue streams and reduce dependence on the volatile oil sector.

“Through ongoing tax reforms aimed at broadening the tax base and improving collection efficiency, the government is working to establish a more sustainable fiscal environment.

“While these reforms may present challenges in the short term, they are essential for building a more resilient and diversified economy in the long run.

“As businesses, it is crucial to adapt to these changes, understanding that they will ultimately strengthen the economic foundation for future growth.

“As we move forward on this path of exploration and collaboration, we must remain focused on the vast opportunities before us.

“Nigeria’s abundant resources, coupled with the current administration’s commitment to economic reform, offer a fertile ground for innovation, investment, and sustainable growth,” Abdullahi said.

Similarly, Prof. Pius Olanrewaju, President/Chairman of the Council, Chartered Institute of Bankers of Nigeria (CIBN), said 2024 presented both challenges and opportunities.

He noted that the GDP signalled gradual recovery amidst global and domestic pressures.

“As we move into 2025, we are presented with both the opportunity and responsibility to critically examine the economic landscape.

“This forum will help us identify the risks, harness the opportunities, and strategize for the future,” Olarenwaju noted.

He commended the collaboration of experts at the annual event, which included Dr Kabir Katata, Director, Research, Policy and International Relations, Nigeria Deposit Insurance Corporation; and Dr Henrietta Onwuegbuzie of the Lagos Business School.

Others were Akinsola Akeredolu-Ale, CEO, Lagos Commodities and Fixtures Exchange; Mr Akeem Lawal, Managing Director Interswitch (Pure pay); and Chinwe Uzoho, Regional Managing Director, West and Central Africa Network International.

 

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Minister Inspects Nigeria/Benin Republic-owned Sugar Firm … Decries Decrepit Condition

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Nigeria’s Minister of State, Industry, Federal Ministry of Industry Trade and Investment, John Owan Enoh, has inspected the Savé Sugar Company, a joint venture between Nigeria and Benin Republic, decrying the current decrepit condition of the facilities.
Inspecting the once thriving company located in Cotonou, Benin Republic recently, the Minister expressed  appreciation for the extra security measures put in place by the government of Benin Republic to secure the Savé Sugar Company which was  Established in 1975.
Special adviser to the Minister on Media, Diana Tiku Nsan, said on arrival in Cotonou,  Sen. Enoh paid a courtesy visit on his Benin counterpart, Minister He noted that during the ship’s port calls, the team engaged with the Indian diaspora worldwide.
Approximately 200 individuals received medical attention from the naval health team during the camp, and beneficiaries were also given free medications.of Commerce and Industry, Benin Republic, Shadiya Alimatou Assouman, where a meeting with both ministers resonated with shared concerns and aspirations of both countries.
Assouman said, “this visit marks a historic moment. Since the inception of the company, no Nigerian minister has visited the facility.
“Your bold step signifies a commitment not only to the sugar complex but also to the bilateral relations between our nations”.
The Minister, who proceeded on an on-site  inspection of the facility, observed that the company has experienced changing fortunes and now lies almost decrepit with the last managers, Compliant of China, having vacated in May 2023, at the expiration of a 20-year lease agreement.
After the assessment, the Minister said, “various meetings at both technical and policy levels have continued to be held, but an action is needed.
“This visit is an eye opener, and more than anything else, we seek its revival. The two countries, as a matter of urgency, need to get a worthy core investor within the shortest possible time.
“This is not just about sugar; it is about livelihoods, partnerships, and the shared future of our nations.
“However, where that is not feasible, the recommendation of the 2021 joint assessment report which submits to the selling of our equity in the company will be brought to the table for possible consideration. Action starts today”.
Nsan also said “the deteriorating situation with the Savé Sugar Company Ltd predates the exit of the Chinese. A joint assessment visitation in 2021 was quite damning and recommended that Nigeria sell its equity holding in the company.
“This was declined by the Buhari administration, which instead preferred that upon expiration of the lease agreement with Compliant of China, the two governments competitively source for new core investors.
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NGA Becomes Official Partner To 29th Gas Conference … As President Set To Address 2025 World Summit

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The Nigerian Gas Association (NGA) has been officially announced as an “Association Partner” for the 29th World Gas Conference (WGC) 2025, which will take place from May 19 to 23 in Beijing, China.
The WGC 2025 is organised by the International Gas Union (IGU) and hosted in 3-year intervals.
It is the largest and most influential event in the global gas industry bringing together thousands of industry leaders, policymakers, gas executives, specialists, and exhibitors.
The event serves as a critical platform for discussing the future of the gas sector, showcasing innovations, and facilitating high-level collaborations among key stakeholders.
President of the NGA, Akachukwu Nwokedi, will join global energy and gas leaders who will headline the event as speakers.
The conference, billed to focus on the theme, “Energising a Sustainable Future”, is projected to have over 30,000 participants from 70 countries, including 600 companies, 300 exhibitors, and 400 expert speakers.
Nwokedi will emphasise Nigeria’s critical role as a major global natural gas market player.
With over 200 trillion cubic feet of proven gas reserves, Nigeria is Africa’s largest resource proprietor and one of the top ten globally.
Nwokedi will detail Nigeria’s initiatives aimed at exploiting these vast reserves to drive domestic economic growth, secure energy supply, and contribute to international sustainability goals.
Reflecting on the upcoming event, Nwokedi said, “We are proud to have the NGA support the WGC 2025 as an Association Partner.
“The World Gas Conference is a key forum for sharing knowledge and driving meaningful dialogue on the future of natural gas, particularly as the world grapples with the need for a balanced energy transition. Nigeria has a wealth of natural gas resources that, if appropriately harnessed, can position us as a leader in global energy markets.
“The WGC will be a veritable platform for sharing updates on recent industry initiatives, which aims to showcase Nigeria as a destination for gas investments, boost the country’s domestic economic growth and the role of gas in Nigeria’s decarbonisation efforts.
“I am honoured to have been invited to speak as the leader of Africa’s leading gas advocacy group to expound on Africa’s plans to harness untapped natural gas reserves in providing energy security for its 600+ million undeserved population, and how Nigeria is at the forefront of this energy revolution.
“This is important because we understand that maximising the potential of these resources will require strategic investments in infrastructure, policy reforms, and a commitment to cleaner energy solutions”.
With more than 90 years of history, the WGC has consistently provided a platform for discussing the evolving role of natural gas in the global energy mix.
The NGA invites its members and other natural gas value chain players to participate prominently through sponsorship and inclusion in the Nigerian Pavilion at the conference in China.
As Nigeria’s largest gas advocacy body, the NGA remains steadfast in its mission to promote natural gas as a critical component of Nigeria’s energy future and advocate for policies that support its sustainable development.
Through partnerships with global organisations and platforms like the WGC, NGA aims to ensure that Nigeria maintains its position as a leading player in the energy sector.
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