Financial Energy Review
The Major Oil Marketers Association of Nigeria (MOMAN) announced that last week’s petrol tank farm fire that affected the OVH Energy Depot (Oando licensee) in Lagos, will not affect the supply of petroleum in Nigeria.
This was disclosed on Sunday by the Executive Secretary, MOMAN, Mr. Clement Isong, in Lagos.
MOMAN said it had taken steps in partnership with petroleum marketers to ensure supply of fuel nationwide.
“MOMAN, in collaboration with Petroleum Products Marketing Company (PPMC), has taken steps to ensure continuous supply of product to Lagos, its environs and across the country.
“We wish to assure members of the public that there shall be no product supply disruptions because of this event,” Isong said.
He added that the group lobbies for the deregulation of Nigeria’s downstream sector to ensure profitability needed to upgrade fuel depot safety standards.
“One of the major reasons MOMAN advocates for the deregulation of the petroleum downstream sector is to ensure adequate margins to finance depot safety upgrades.
“Nonetheless, MOMAN as an association insists on internationally accepted safety standards and shared best practices in their self-regulation drive and cross-inspecting members’ facilities and installations to meet these standards.
“MOMAN members have, therefore, continued to invest in and upgrade safe practices, firefighting and other equipment to meet the country and the jointly set standards.”
