Resolution of Dispute between PETROAN and IPMAN.

In an encouraging development for the petroleum sector in Nigeria, the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) and the Independent Petroleum Marketers Association of Nigeria (IPMAN) have successfully resolved their ongoing dispute regarding petroleum product lifting at the Port Harcourt depot and various other locations across the country. This resolution, comes after a month of discord between the two prominent associations.

Following extensive discussions, both associations have agreed to establish a joint batching committee designed to facilitate seamless operations moving forward. The committee will consist of four representatives from IPMAN and three from PETROAN, tasked with overseeing the security of petroleum products nationwide.

The rift between PETROAN and IPMAN primarily stemmed from competition over control at the nation’s depots, particularly in light of a recent agreement both groups secured with Dangote Refinery for direct petrol procurement. This newfound cooperation may signal a positive shift in the landscape of Nigeria’s petroleum industry, promoting stability and efficiency in product distribution.

The establishment of this joint committee represents critical progress and a commitment to collaboration, ultimately benefiting stakeholders and consumers alike. As the petroleum sector continues to evolve, such alliances will be vital in addressing operational challenges and ensuring the security of fuel supply across the nation.