MOMAN, other downstream players hail FG, pledge support for deregulation —
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MOMAN, other downstream players hail FG, pledge support for deregulation

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Stakeholders in the Downstream Sector of the Nigerian Oil and Gas Industry, including the Major Oil Marketers Association of Nigeria (MOMAN), have lauded the Federal Government for the courage to tackle the challenges in the Downstream Sector frontally.

This was part of press release by the Corporation’s spokesman, Dr. Kennie Obateru, during the weekend in Abuja. He also stated that the stakeholders gave the commendation at a downstream stakeholders’ meeting which held in Abuja.

Speaking at the meeting, the President of MOMAN, Mr. Tunji Oyebanji, said the Federal Government has displayed utmost pragmatism by applying economic solution to the age-long challenges in the Downstream rather than the political solutions applied in the past which were not sustainable.

On her part, the Vice President of Depots and Petroleum Products Marketers Association of Nigeria (DAPPMAN), Hajia Amina Maina, said the subsidy regime was of no benefit to anyone and commended the GMD for the engagement.

All the stakeholders present, including the Petroleum Tanker Drivers’ (PTD), NUPENG, and PENGASSAN, pledged their support for the efforts of the Federal Government and NNPC to ensure a viable and sustainable Downstream Petroleum Sector.

Speaking earlier, the GMD NNPC, Mallam Mele Kyari, disclosed that concrete steps have been taken to address the main concerns of marketers, especially the issue of availability of forex, stressing that the Central Bank of Nigeria (CBN) has already taken the first step of merging all forex windows to have a unified exchange rate.

“It is really not in our interest to be the sole importer of PMS in the country. We have taken definite steps to exit the situation. This is a definite step taken and the details would be communicated to stakeholders like MOMAN, DAPMAN, IPMAN and others outside this forum,” Mallam Kyari stated.

On the issue of subsidy on forex for marketers, he explained that the government spent N2.13trillion from 2016 to 2019, describing the situation as unsustainable and unprogressive.

In his remarks, the Director of the Department of Petroleum Resources DPR, Mr. Sarki Auwalu, who was represented by the agency’s Assistant Director, Depots, Products and Jetties, Mr. Bashir Sadiq, said government was interested in opening up the Downstream Sector, adding that the DPR was in support of NNPC’s initiatives in the sector.

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