The Independent Petroleum Marketers Association of Nigeria (IPMAN) has called on the Nigerian National Petroleum Company Limited (NNPC) to provide transparency regarding the utilization of funds allocated for the Kolmani River drilling project between Bauchi and Gombe states. Mr. Maurice Ibe, Principal Consultant to IPMAN, emphasized the need for NNPC to disclose information about the project, including expenditures and outcomes, asserting that accountability is crucial.
The Kolmani River Field, heralded as a significant oil and gas reserve, attracted substantial investment for the Kolmani Integrated Development Project, which aimed to establish various industrial facilities. However, concerns have been raised about the progress and effectiveness of the project, prompting calls for NNPC to address these issues.
While refraining from taking a definitive stance on the Kolmani project, Ibe stressed the importance of NNPC’s involvement in providing clarity and accountability. He highlighted the need for transparency in resource allocation and outcomes, emphasizing that if resources were misused, the country deserves an explanation.
Regarding the supply of petroleum products by Dangote Refinery, Ibe acknowledged it as a positive development but cautioned that its impact might not be immediately evident. He explained that the distribution process would take time, and the full effects on the market would manifest gradually.
Furthermore, Ibe underscored IPMAN’s advocacy for the revitalization of public refineries and emphasized the importance of functional refineries in addressing Nigeria’s energy challenges. Despite acknowledging Dangote’s efforts, Ibe emphasized the need for more concerted efforts to enhance the operational capacity of existing refineries and explore opportunities for additional modular refineries across the country.
In conclusion, Ibe reiterated IPMAN’s commitment to engaging investors in establishing modular refineries, emphasizing the significance of decentralizing refining capacity to address Nigeria’s energy needs effectively.
