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Major Oil Marketers to support FG’s Petroleum Policy

The Major Oil Marketers Association of Nigeria (MOMAN) has offered to collaborate with government toward actualising the petroleum industry policy including deregulation which remains the only way in achieving a robust and sustainable downstream petroleum industry.

Chairman of MOMAN, Mr. Adetunji Oyebanji, disclosed this in a communique issued on Tuesday in Lagos after the MOMAN Chief Executive Officers (CEO) Strategy Retreat, held in Abuja on the way forward toward a sustainable and viable downstream sector.

It would be recalled that the Federal Executive Council of Nigeria, on 19 July 2017, approved the National Petroleum Policy (NPP or the Policy) which articulates a vision for Nigeria to become a Nation “where hydrocarbons are used as a fuel for national economic growth and not simply as a source of income”.

Oyebanji said that CEOs’ two-day retreat recognised the outstanding work done by the Nigeria National Petroleum Corporation (NNPC) to ensure continuous supply of petroleum products in 2018 and 2019, especially during the election period.

He also lauded the improved collaboration between NNPC, especially PPMC and MOMAN which, he said, contributed significantly to the outcome. He said that the association would proactively collaborate with government towards the development of the downstream petroleum industry including renewable and alternative energies in Nigeria.

The MOMAN chair said that the association is also posed to optimize and reduce supply chain costs through better collaboration and use of technology.

He added that MOMAN would ensure development and compliance with an industry self-regulatory regime to support the industry regulator and raise Nigeria’s safety, technical and quality standards in fulfillment of the government’s national petroleum policy.