Earlier in July, IPMAN had completed a business agreement with some international investors to construct two refineries worth about three billion Dollars at Itobe, Kogi, and Abbe in Bayelsa.
He requested the Ministry of Power to aid the IPMAN refinery initiative by providing the sites access to the national grid.
This will enable investors in local refineries such as the Dangote Group and IPMAN
, to reap optimal returns on investment.
In a 3-hour ruling, Presiding Judge, Justice Lambo Akanbi also invalidated the minutes and the meeting with which the last members of the IPMAN
trustee had come to power
IPMAN members are lodging petroleum products from all NNPC depots across the country and NNPC and Pipelines Products and Marketing Company (PPMC) have assured us of sufficient stock in the country.
He added that, in spite of the continuous challenges due to pipeline vandalism and product theft, NNPC has re-assured IPMAN of sufficient products in its marine and national strategic reserves.
According to the official, the allocation to IPMAN was in addition to the previous allocation to the major marketers to reduce the sufferings of Nigerians.
He further said that the allocation to IPMAN would be provided through Nigerian Independent Petroleum Company (NIPCO) for ease of allocation to its members.