Reps seek consensus between importers, refiners on downstream reforms

While supporting government’s efforts to expand domestic refining capacity, MEMAN maintained that decisions on petroleum imports should remain with the Federal Government and NMDPRA to ensure adequate supply, competition and consumer protection.

The committee on Tuesday held an interactive session with key industry stakeholders, including the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN), Independent Petroleum Marketers Association of Nigeria (IPMAN), and Major Energies Marketers Association of Nigeria (MEMAN), to deliberate on reforms aimed at ensuring stable fuel supply and attracting investment.

The association said the implementation of the Petroleum Industry Act, deregulation of fuel pricing, rehabilitation of government-owned refineries and the emergence of private refineries had positioned Nigeria to become a major refining and distribution hub in Africa.