Nigerian Lawmaker seeks private sector involvement in petroleum industry.

The Chairman, House of Representative Committee on Petroleum Resources (Downstream) Hon Dakuku Peterside has observed that the private sector holds the key to the effective harnessing and utilization of the nations hydrocarbon resources for overall economic growth.

Hon Peterside who made the observation after he led his committee members on an inspection visit to Nipco plc said the high level of competencies being exhibited by private firms in the industry is quite impressive with its attendant benefits to the nation.

Dakuku Peterside

According to him, the prowess and accomplishments shown by Nipco in its few years of operation gives a lot of hope in achieving meaningful development in this very strategic sector.

He maintained that from what his committee saw at the organization’s terminal, Nigeria can boast of world Class Company capable of taking the country to greater heights in no distant future.

According to him, Nipco represents hope in indigenous business ingenuity which Nigeria and Nigerians can be proud off even as he expressed optimism that the firm will keep the flag flying at all times.

He said his committee will continue to support the company and others that have shown exemplary competencies in the overall interest of the industry.


Hon Peterside pointed out that they will ensure that Nigerians receives the best service in terms of petroleum products price, quality and access in a manner that will make us comparable to fellow oil rich nations of the world.

Hon Peterside said his committee will also address the issue of safety in all ramifications in the industry with a view to ensuring that the nation operates within ambit of the international best practices in this very important sector of the national economy.

In his remarks the Executive Director, Corporate Alhaji Abdulkadir Aminu  said the firm emerged as one of the beneficiary of the deregulation of the oil and gas industry of the Nigerian economy since the beginning of democratic rule in the country.

He noted that the company which began operation in 2004 with 60 million litres white products storage capacity is now a reference point in the history of petroleum products storage and distribution in Nigeria.

Alhaji Aminu explained that the firm which is a partnership between Independent Petroleum Marketers and a core investor – Pure Bond limited UK is deeply committed to providing Nigeria and Nigerians outstanding services in the nations most strategic industry.

“Having chosen to represent Nigerians in the downstream of this essential industry we have immense responsibility to prove to our stakeholders, the entire nation and the world that Nigerians are fit and capable of running world class corporations for our own benefits and that of the world”. He declared.

Alhaji Aminu submitted that in less than a decade of the company’s operations, the firm has come of age, having attained remarkable landmarks in the oil and gas industry.

According to him, petinent to mention as one of our humble achievements is the pioneering efforts in the use & construction of CNG stations to encourage use of compressed gas as a vehicular fuel in the country.


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