The Independent Petroleum Marketers Association of Nigeria says the passage of the Petroleum Industry Bill has come to ease Nigerians of the pains that necessitated the call for the bill in the first instances.
IPMAN National Public Relations Officer, Yakubu Suleiman, in a statement Sunday, said the passage of the bill would further solidify IPMAN’s support for the deregulation of the oil industry” notable among the clauses in the historic bill is the Petroleum Equalization section which would remain a main factor to stabilize the industry across the country.
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“If signed into law by President Muhammadu Buhari as it was passed by the Senate, the PIB will change the landscape of the industry positively and above all, it would attract a smooth flow of foreign direct investments that would shore up the revenue base of the country and reduce the dependence of foreign loans to execute the nations’ budgets.
“The passage of the bill by the Senate last week is a clear demonstration of the fact that our lawmakers are in touch with the masses and ready to play their role in easing the financial stress on Nigerians who were used to unstable pricing of commodities due to the unpredictable nature of fuel prices.”
Suleiman said thanked the National Assembly for presenting Nigerians with “this tangible dividend of democracy.”
He said IPMAN members would obey every section of the law that would require them to make life easy for Nigerians.
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