Financial Energy Review
…….Ben Ndubuwa….
The Major Energy Marketers Association of Nigeria (MEMAN) has said that members distributed more than 251,797,142 litres of Premium Motor Spirit (PMS) from the Dangote Refinery over the past 10 weeks. This milestone highlights the group’s efforts to stabilize fuel supply across the country both from the refinery and with additional volumes from import.
Speaking during Wednesday MEMAN quarterly media engagement, in which the second session of the event featured, Mrs. Ogechi Nkwoji, MEMAN’s Head Economic Intelligence, Research and Regulation, who examined the key factors affecting the cost of delivering petroleum products across Nigeria. Ogechi represented MEMAN’s Executive Secretary, Mr. Clement Isong gave an in-depth analysis of the elements shaping pricing. She also highlighted MEMAN’s efforts to foster market stability and boost consumer confidence.
As part of the session, it was shared that MEMAN distributed over 251 million litres of PMS from Dangote refinery. This volume comprises 148,463,142 litres transported by trucks from the refinery gantry and 103,334,000 litres delivered to Apapa depots via vessels. MEMAN has emphasized its strategic shift towards vessel transportation, which has proven more efficient than relying solely on truck logistics.
“Initially, we prioritized truck loading to meet immediate demands, but we quickly realized the efficiency and reliability of vessel transportation. This has significantly reduced the number of trucks dispatched from the refinery,” MEMAN said.
The association confirmed that the Dangote Refinery serves as its primary supply source for PMS, while imports are being used to bridge any gaps. MEMAN assured the public that all operations are conducted in full compliance with legal regulations.
“Our partnership with the Dangote Refinery is a crucial step towards ensuring a steady supply of PMS nationwide. We remain committed to supplementing supplies with imports when necessary, always adhering to the highest standards of regulatory compliance,” MEMAN said.
The switch to vessel transportation is expected to reduce the strain on road networks and enhance the efficiency of fuel distribution. Stakeholders have lauded the initiative, describing it as a forward-thinking approach to addressing Nigeria’s fuel supply challenges.
“This shift not only improves delivery times but also minimizes the environmental and infrastructural impacts associated with heavy truck usage. It’s a win-win for everyone” the Association said.
MEMAN’s efforts come amid broader discussions about optimizing Nigeria’s energy sector and reducing dependence on imports. The Dangote Refinery, touted as the largest single-train refinery in the world, is expected to play a pivotal role in achieving energy security for the country.
As loading operations continue, MEMAN has assured Nigerians of its unwavering commitment to meeting the nation’s fuel demands efficiently and sustainably.
