PMAN condemns activities of pipeline vandals, thieves

The National Executive Committee of the Independent Petroleum Marketers Association of Nigeria has condemned the activities of the pipeline vandals and crude oil thieves in the country.

The IPMAN National Secretary General, Mr. Mike Osatuyi, was quoted in a statement on Wednesday, as saying this after the association’s meeting in Lagos on Wednesday.

He said IPMAN’s NEC was seeking the fullest cooperation of Nigerians to bring to a halt the activities of the pipeline vandals and crude oil thieves.

Pipeline vandalism and crude oil theft have become the greatest economic problems in Nigeria with grave effect on the nation’s economy.

The Federal Government said there was a significant drop in crude oil production for the first quarter of 2013 due to incessant crude oil theft and vandalism along the major pipelines in the Niger Delta.

As such, the government said it lost N191bn ($1.23bn) in the first quarter of the year on account of aggravating crude theft.

Expectedly, data from the National Bureau of Statistics revealed that the year-on-year Gross Domestic Products contribution of the oil and gas industry in Nigeria dropped in the first quarter of 2013 from 15.80 per cent in Q1 2012 to 14.75 per cent.

Osatuyi further commended the leadership of the Pipeline and Product Marketing Company under Haruna Momoh for the constant stability of petroleum products supply in the country.

He praised the Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke, for the effort.

 “IPMAN will continue to work with PPMC in all the 21 PPMC depots across the country in ensuring seamless product supply to all the nooks and crannies of Nigeria,” Osatuyi said.

According to him, IPMAN controls over 85 per cent of Nigeria’s petroleum product retailing, “which makes our association a dominant player in the Nigeria downstream market.”

He said the introduction of electronic tracking of oil vessels by the current leadership of the Ministry of Petroleum Resources had reduced round tripping and product diversion.

He added that this was a laudable innovation which would ensure accountability and probity as well as save the country some foreign exchange.

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