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Major Oil Marketers Association of Nigeria

Nigerian National Petroleum Corporation (NNPC)

Subsidy: NNPC faces more pressure as Bonny Light rises by 150 percent

There are indications that the Federal Government through the Nigerian National Petroleum Corporation, NNPC would be under more pressure to fund Nigeria’s petrol under-recovery or subsidy as the price of Bonny Light rises to $65 per barrel in May 2021.
Crude oil is dispensed into a bottle in this illustration photo June 1, 2017. REUTERS-Thomas White-Illustration

Nigerian government seeks speedy resolution of disputes in oil, gas industry

The Federal Government on Thursday inaugurated an Alternative Dispute Resolution Center (ADRC) to quicken the resolution of disputes in the oil and gas industry in Lagos.

Fuel queues worsen amidst scarcity in Abuja, environs

“The issue around the retail price has not been resolved at all. It seems the government has jettisoned deregulation. We are being forced to sell at a price that is not profitable. The ground is not level and we are told to sell at the same price with NNPC retail stations, that we shouldn’t increase the price. This is the cause of the scarcity,” the MOMAN official said.

Oil marketers blame subsidy for downstream infrastructure decay

The poor state of infrastructure in petroleum downstream sector has been blamed on years of under-pricing the pump price of premium motor spirit, petrol, through subsidy payment.

Major petroleum marketers advocate joint action to mitigate effects of petrol price hike

Marketers of petroleum products under the aegis of Major Oil Marketers Association of Nigeria (MOMAN) have called for a joint action of stakeholders in the Nigeria economy to find ways to mitigate adverse effects of the imminent increase in the price of petrol.

DPR inaugurates downstream remote monitoring system

The Department of Petroleum Resources (DPR) has inaugurated a Downstream Remote Monitoring System (DRMS) for transparency and accountability in monitoring transportation of petroleum products in the country.

DPR to upgrade downstream petroleum sector operations

The Department of Petroleum Resources, DPR, Tuesday, disclosed that it plans to upgrade operations in the downstream petroleum industry, leveraging on its ongoing automation process.
Petrol Tankers

Oil marketers fault plan to fix freight rate for petrol

Major Oil Marketers Association of Nigeria (MOMAN) says plans to fix the freight rate for Premium Motor Spirit (PMS) can hinder the downstream sector’s full deregulation.
The Minister of State for Petroleum Resources, Chief Timipre Sylva, has said that more private and public sector collaboration will be encouraged as Nigeria steps up effort to realise its target of boosting domestic gas utilisation.

AfCFTA: Nigeria to become petroleum products refining hub – minister

The Federal Government says it will leverage the opportunities provided by the African Continental Free Trade Area Agreement (AfCFTA) to reposition the oil and gas sector.
Mr Kayode Falowe, President, NBCC, made the assertion on Thursday during a webinar organised by the Oil and Gas Group of the NBCC.

NBCC: PIB provides opportunity for growth in oil, gas sector

The Nigerian-British Chamber of Commerce (NBCC) on says the Petroleum Industry Bill (PIB) currently before the National Assembly provides an opportunity for growth in the oil and gas sector.

MOMAN: Tank fire won’t disrupt fuel supply

The Major Oil Marketers Association of Nigeria has said the recent fire outbreak at the depot of one of its members, OVH Marketing Limited, will not cause product supply disruptions.

Fierce competition will keep petrol price moderate – marketers

Against the backdrop of the full deregulation of the nation’s downstream oil sector, major oil marketers have said fierce competition will moderate the pump prices of petrol.

Oil marketers list gains of fuel deregulation to Nigerians

The Major Oil Marketers Association of Nigeria (MOMAN) says the deregulation of the sale of Premium Motor Spirit (PMS), also known as petrol, will be beneficial to Nigeria and Nigerians in the long run.

MOMAN: Nigeria heading towards full deregulation of petrol

The Major Oil Marketers Association of Nigeria (MOMAN) says Nigeria is gradually heading towards full deregulation of the Premium Motor Spirit (PMS) which will enable pump price to be determined by market forces.

Oil marketers condemn planned protest, shutdown over fuel price hike

Oil marketers, under the aegis of Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), yesterday, kicked against attempts by some labour groups and trade associations to stage a protest march in opposition to the recent hike in the price of Premium Motor Spirit, also known as petrol.

Marketers call for appropriate legislation on fuel subsidy removal

Marketers are calling for appropriate legislation that will enforce the new fuel subsidy removal policy of the Federal Government.
The Petroleum Products Pricing Regulatory Agency (PPPRA) is set to commence a comprehensive audit and survey of downstream oil and gas logistic facilities, with a view to identifying the infrastructure gap in the sector

PPPRA clears marketers to import petrol

Before the downstream oil sector was liberalised in March this year, the NNPC used to be the sole importer of petrol, a task it handled for more than two years.

Nigeria: Fuel subsidy will not return

The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, and the Central Bank of Nigeria Governor, Mr Godwin Emefiele, made the pledge in a letter to the Managing Director of the International Monetary Fund, Mrs Kristalina Georgieva.

MRS Oil director resigns

A disclosure sent to the Nigeria Stock Exchange said the board of the company reviewed and approved the resignation by a written resolution.

FRSC: Nigeria lost N39 billion to trailer, tanker accidents in 2018

The Federal Road Safety Corps (FRSC) says Nigeria lost over N39 billion to tanker and trailer-related road crashes in 2018.

FSDH: Fuel subsidy unsustainable

The Chief Executive officer of FSDH Merchant Bank Limited, Hamda Ambah, has said the government must provide palliative measures for the masses to guarantee the success of the deregulation of the downstream oil and gas sector, which will lead to the removal of fuel subsidy.
The Department of Petroleum Resources (DPR) has sealed 30 fillings stations in Cross River for selling petrol above the approved price of N145 per litre and other offences.

DPR seals 55 petrol stations in Port-Hacourt

The Department of Petroleum Resources (DPR) on Tuesday said it had sealed no fewer than 55 petrol stations in Port-Harcourt and environs in the last six weeks for various offences.

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Dangote Cement Plc’s huge investment has been described as one of the major contributors to the development of the Senegalese economy. Besides, the cement plant located in Pout, 60 kilometres away from Dakar, has greatly assisted in strengthening the business relationship between Senegal and Nigeria.
President of the Senate, Ahmad Lawan, disclosed on Tuesday that the Senate may next week consider the report of an Ad-Hoc Committee on security challenges with a view to finding solutions to Nigeria’s security problems.

Senate in close session with security chiefs, others over insecurity

Senate on Thursday at plenary went into closed session with some heads of security agencies in the country.
The Senate President, Ahmad Lawan, has said that for appreciable development to take place in the country, more women must be regarded and enlisted to take up more spaces in governance.

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President of the Senate, Dr. Ahmad Lawan, has assured 230 Nigerian students currently stranded in the Southern Caribbean nation hit by volcanic eruptions that the National Assembly would intervene to ensure that they are safely brought back home.

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