The Independent Petroleum Marketers Association of Nigeria (IPMAN) has commended the National Assembly for the inclusion of the Petroleum Equalization Fund (PEF) in the newly passed Petroleum Industry Bill (PIB).

The Public Relations Officer (PRO) of IPMAN, Yakubu Suleiman, gave the commendation on Sunday in a statement in Abuja.

Suleiman said the legislative arm of government had demonstrated that it was sensitive to the yearnings of majority of Nigerians for a permanent solution to the energy problems in the country.

He said the entire content of the bill as passed by the Senate would serve as a catalyst for the inflow of the much desired foreign direct investment to boost the economy.

“The much-awaited Petroleum Industry Bill has come to ease Nigerians of the pains that necessitated the call for the Bill in the first instances.

“We observe with great delight that this bill, when passed into law, would further solidify our support for the deregulation of the oil industry as a policy of government that would allow Nigerians to reap the full benefits of oil and gas which has been the greatest gift from nature to the country.

Suleiman said if signed into law by President Muhammadu Buhari, the PIB would change the landscape of the industry positively and reduce the dependence on foreign loans to execute the nations’ budgets.
He thanked the National Assembly under the leadership of the Senate President, Ahmed Lawan, and the Speaker, House of Representatives, Femi Gbajabiamila, for presenting Nigerians with the tangible dividend of democracy.
Suleiman promised the unflinching support of IPMAN towards obeying “every section of the law that would require us to make life easy for Nigerians.”