Financial Energy Review
………..by James Ikenna……….
The Major Oil Marketers Association of Nigeria (MOMAN) is now to double check the quality of product (reblended or new) before they are released into the fuels supply chain as it has also directed its members to extend the operations of their jetties, depots and filling stations to between 18 to 24 hours daily until queues subside across the country.
MOMAN in a statement said their members are working with the regulatory Authorities and NNPC towards a resolution of the current fuel crisis
MOMAN’s Chairman, Mr Olumide Adeosun confirmed that their members have committed resources to ensure that the crisis is brought to an end.
“Most importantly, MOMAN members have committed resources towards enhanced operations and associated activities to reduce the burden of the current fuel scarcity to our customers” Adeosin said.
“Towards this purpose, MOMAN members shall extend opening hours of jetties, depots, and filling stations to a minimum of 18 hours a day and where possible up to 24 hours a day in high density and flagship locations where the security situation permits.
“MOMAN members shall operate these extended hours until the excessive queues subside.” he said.
He urged customers not to engage in panic buying as it might take a few days for normalcy to return, as the act also increases the pressure on the supply chain.
Adeosun noted that MOMAN subject matter experts were active contributors to the technical and commercial committees set up by the regulatory authorities.
According to him, the committees are saddled with re-stocking fuel supplies, resolving the blending of contaminated product and identifying losses suffered by customers, operators and third parties.
He said MOMAN’s committee of chemists were also working with designated laboratories to double check the quality of product (re-blended or new) before they are released into the fuels supply chain.
