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Tag: MOMAN

  • MOMAN rebrands to MEMAN

    MOMAN rebrands to MEMAN

    The Major oil Marketers Association of Nigeria (MOMAN) has rebranded it corporate operations with improved focus on energy efficiency

    The oil marketers officially unveiled its new corporate identity and new logo – Major Energy Marketers Association of Nigeria (MEMAN) in Lagos yesterday.

    Members of MEMAN include, NNPC Retails, 11Plc, Conoil, Ardova Plc, MRS, and Total.

    The Chairman, MEMAN and Managing Director, Nigerian National Petroleum Company Retails (NNPC Retails) Huub Stokman, said the decision to rebrand stems from its commitment to the renewed landscape of the energy industry and emphasized identification on a sustainable, diversified energy future.

    As a responsible stakeholder in the energy sector, MEMAN recognizes the growing importance of alternative energies and our role in shaping the future of the industry. Now, as MEMAN, we’ve identified three pillars that are crucial to the success of our sustainability efforts. One is health, safety, security and environment (HSSE), adding value to our customers and to our stakeholders, and innovation.

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    He urged the players in the industry to optimize and reduce costs along the value chain through logistics sharing, or adoption of alternative energies.

    He assured of the group’s commitment to “further distribution to expand the energy options available to our customers, so that they can also change the energy mix and encourage our customers to be energy independent, and hopefully also reduce their energy costs,”

    “We believe that this transformation effectively reflects a vision for the future and underscores our commitment to sustainability and resilience of the downstream energy sector in Nigeria,” he said.

    The Chief Executive Officer, Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Farouk Ahmed said the transition from oil and gas association to an energy association depicts the constituents of energy transition, and environmental sustainability.

    Ahmed said that “the energy sector in Nigeria faces a common challenge evolving from business as usual or is falling behind in the transition to net zero carbon emissions. This is amid energy poverty or insufficient infrastructures, growing energy demand and industrialization. Climate change is no longer a distant threat, but a present reality. The need for clean sustainable energy has never been more urgent, MEMAN is not just adopting this change, they are embracing it. They are not just responding to the regulator’s code for sustainability. They are leading it; they are transitioning their members to a commitment for the good of all.”

    Ahmed, who was represented by Mustapha Lamorde, urged MEMAN to continue its dedication to upholding the highest standards.

    Chairman, Energy Institute, Osten Olorunshola, said: “The EI and MEMAN envision a future where innovation, inclusivity and sustainability are central to our energy landscape. We will work hand in hand to create a platform for the exchange of ideas. The advancement of knowledge and the cultivation of a workforce attuned to the broader challenges and opportunities within the energy industry.”

  • Muhydeen Kayode’s benevolence continues in 2024

    Muhydeen Kayode’s benevolence continues in 2024

    In the dynamic realm of Nigerian business and philanthropy with 2024 in view, Alhaji Muhydeen Okunlola Kayode emerges as a distinguished figure, embodying the virtues of exemplary leadership, entrepreneurial acumen, and a commitment to societal upliftment.

    Born on November 15, 1986, Alhaji Muhydeen Okunlola Kayode hails from Kwara state, Nigeria. As the last of seven siblings, he inherited a work ethic instilled by his father, a diligent mechanic, and his mother, a dedicated trader. Armed with determination and a thirst for knowledge, Muhydeen pursued his education, earning a degree in Quantity Surveying from Federal Polytechnic, Offa, and later, from Federal Polytechnic, Nasarawa.

    In 2009, after completing his Ordinary Diploma education, Muhydeen delved into the real estate industry, marking the commencement of a remarkable journey. His entrepreneurial spirit found expression in 2017 when he co-founded Luxiar Construction Limited, a thriving construction company based in Abuja.

    Read Also; CBN gears up for first MPC meeting under Cardoso

    Luxiar Construction Limited, under Muhydeen’s adept leadership, has achieved significant milestones, undertaking prestigious projects such as the Federal Mortgage Bank of Nigeria (FMBN) and the Ministry of Defence Cooperative Society Estate, among others. The company’s portfolio boasts an impressive array of over 3,000 structures, encompassing residential and commercial buildings, as well as critical infrastructure and industrial facilities.

    Beyond his success in the business arena, Muhydeen Okunlola Kayode is equally committed to making a positive impact on society. As the founder and president of the MOK Foundation, named after his initials, he has steered initiatives that extend a helping hand to those in need. The foundation has provided educational and vocational scholarships, spearheaded youth empowerment programs, facilitated micro-credit and financial empowerment initiatives, and engaged in various other humanitarian interventions.

    In his personal life, Muhydeen is a family man, married to Mrs. Ramat Okunlola, and a proud father of two children. Their home in Abuja serves as a testament to the balance he maintains between professional success and familial responsibilities.

    Alhaji Muhydeen Okunlola Kayode stands as a shining example of what can be achieved through dedication, hard work, and a commitment to giving back to the community. His journey from humble beginnings to a leader in the real estate industry and a philanthropist reflects the transformative power of vision and determination. As Nigeria continues to progress, Muhydeen’s story serves as an inspiration to aspiring entrepreneurs and a reminder that true success is measured not only by personal achievements but by the positive impact one makes on the lives of others.

  • NNPC’s claims of N305 to $1 a ruse, says MOMAN

    The Major Oil Marketers Association of Nigeria (MOMAN) has denied claims that marketers are getting foreign exchange (forex) at N305 to a dollar for importing petrol.

    Its Chairman, Mr. Tunji Oyebanji spoke on the sidelines at the just-concluded Nigerian Oil and Gas (NOG) conference in Abuja.

    He said total deregulation of the downstream sub-sector remained the best option.

    The Chief Operating Officer, Downstream, Nigerian National Petroleum Corporation (NNPC), Mr. Henry Ikem-Obih had said marketers were given forex intervention schemes at N305 to a dollar, rolled out by the Central Bank of Nigeria (CBN) and co-managed by the NNPC.

    The MOMAN boss said: “I don’t know who is getting it at that N305. If NNPC is giving some marketers at that rate, I want to believe it is not transparent. I don’t know who is getting it.’’

    He continued: “If we are getting it N305 for importation of petrol, we will be importing, but we are not getting it. When the scheme started, that was the plan and CBN was the one handling it.

    “Eventually, the NNPC took it over and we don’t know who is getting it at N305. So, maybe he can enlighten us by publishing the names of those who are getting it.’’

    Oyebanji, who is also the Managing Director of 11Plc (formerly Mobil Oil Nigeria Plc), added: ‘’We are not importing petrol at all, but if we want to import Automotive Gas Oil (diesel) or Aviation Turbine Kerosene (aviation fuel), we have to go and buy at N330 or N346.

    “You can’t compete because the NNPC is bringing everything at N305; so, it is not a level-playing field at all.

    “If we are getting forex at N305, may be we are able to import. But, again, technically, for the country as a whole, does it truly make sense? In the market, dollar is being sold at N360.

    “So, what Nigeria should be earning from every dollar it generates should be N360; that’s really the market value. Every time you are selling at N305, you are also subsiding and it’s a loss to the country. We all have to determine what we want to do.’’

    The MOMAN chief said there was no alternative for marketers to start importation of petrol until Dangote Refinery came on stream, which might ease supply and reduce fuel importation.

    “Marketers can’t import fuel because if the price remains at this level, how can marketers import when the landing cost is more than pump price? For now, only NNPC can absorb that.

    “And, indirectly, it’s you and I that are bearing the cost because the money would have been put in other things. We are all used to driving with cheap fuel. That’s what we seem to like.

    “The truth of the matter is that, deregulation is not an easy subject because there is obviously political ramification. If it was easy, it would have been done a long time ago,’’ he said.

  • Fuel shortage: Edo, oil marketers warn residents against panic buying

    In the wake of rumoured shortage of petroleum products in the state, the Edo State Government has warned residents in the state not to engage in panic buying as adequate arrangements have been made to ensure ample supply of the products, especially during the Easter break.

    Edo State Commissioner for Minerals, Oil and Gas, Hon. Joseph Ugheoke, disclosed this after a meeting with executives of the Edo Chapter of the Independent Petroleum Marketers Association of Nigeria (IPMAN) and Major Oil Marketers Association of Nigeria (MOMAN) in Benin City, the Edo State capital, at the weekend.

    The Commissioner urged residents in the state to disregard rumours of impending fuel scarcity, assuring that there would not be a disruption in the supply of petroleum products.

    He said the state government was working in collaboration with major stakeholders in the fuel distribution chain to sustain the present availability of products.

    On the outcome of the meeting with the oil dealers, the commissioner conveyed the resolve of the marketers to continue to dispense petrol at the approved pump price and without instigating artificial scarcity through hoarding.

    On their parts, Vice Chairman of the Edo State IPMAN, Abdulhamid Baba Saliu and the Chairman, Major Oil Marketers and Dealers, Tony Aghedo, affirmed the availability of petroleum products for consumers, noting that there was no cause for alarm.

    The commissioner said the stakeholders are expected to reconvene next week to review the situation for further action.

  • MOMAN backs Fed Govt’s Petroleum policy

    Major Oil Marketers Association of Nigeria (MOMAN) has restated its support for government policy on the petroleum industry, including policy on deregulation, which remains the only way to achieving a robust and sustainable downstream petroleum industry.

    The National Petroleum Policy articulates a vision for Nigeria to become a nation “where hydrocarbons are used as a fuel for national economic growth and not simply as a source of income.” The Policy recognises that Nigeria “must develop a petroleum industry where the value added in oil stream is realized, combined with a move towards a gas based industrial economy and that the future for oil producers lies in developing a value added sector of refining and petrochemicals” given the volatility in oil and gas prices. The Policy envisions a strong refining sector, which will transition the refineries from selling only capacity to selling both capacity and products.

    Its Chairman, Adetunji Oyebanji, who stated this in a communiqué after MOMAN’s Chief Executive Officers’ (CEOs’) strategy retreat in Abuja on the way forward for a sustainable and viable downstream sector, said the two-day retreat recognised the outstanding work done by the Nigeria National Petroleum Corporation (NNPC) to ensure continuous supply of petroleum products in 2018 and 2019, especially during the election period.

    The Federal Executive Council on July 19, 2017  approved the National Petroleum Policy (NPP), which articulates a vision for Nigeria to become a nation “where hydrocarbons are used as fuel for national economic growth and not simply as a source of income”.

    He also lauded the improved collaboration between NNPC and MOMAN, especially PPMC, which he said, contributed significantly to the outcome. He added that the association would proactively collaborate with government towards the development of the downstream petroleum industry, including renewable and alternative energies in Nigeria.

    The MOMAN chair said the association is poised to optimise and reduce supply chain costs through better collaboration and use of technology. He added that MOMAN will ensure development and compliance with an industry self-regulatory regime to support the industry regulator and raise Nigeria’s safety, technical and quality standards in fulfillment of the government’s national petroleum policy. “MOMAN is committed to improving customer service and the deployment of technology in the protection of the customer and ultimately the business.”

    Oyebanji assured of training and development of Nigerians in important disciplines, including engineering, management and strategy. According to him, the Association will also establish a think-tank of professionals to tackle industry issues and proffer workable solutions to identified problems.

    Part of its strategic policy objectives, he said, was to create a market-driven oil and gas industry, cost efficient storage, transportation and distribution of petroleum products.

    He reiterated MOMAN’s plans to strengthen its support to the Federal Road Safety Corps (FRSC); the Department of Petroleum Resources (DPR); Petroleum  Products Pricing Regulatory Agency (PPPRA); Standards Organisation of Nigeria (SON) and other regulatory agencies, which impact the downstream to improve product transportation.

    “We also acknowledge that we need to support the regulatory agencies by adopting internal self-regulation practices if we want the industry to operate at acceptable international levels.

    “MOMAN will focus on service to the Nigerian customer at retail outlets and towards this purpose to use training of forecourt employees, managerial competencies development and technology to ensure that the Nigerian customer gets full value for the products and services he/she is paying for,” Oyebanji added.

    He also affirmed MOMAN’s intention “to have a more inclusive MOMAN and begin the process of opening our doors to new members, as well as share our savoir-faire and international best practices from our heritage and experience of over a hundred years in the industry”. He said the association will continue to strengthened partnership with NNPC to ensure seamless supply of petroleum products across the country.

  • MOMAN backs Fed Govt’s Petroleum policy

    Major Oil Marketers Association of Nigeria (MOMAN) has restated its support for government policy on the petroleum industry, including policy on deregulation, which remains the only way to achieving a robust and sustainable downstream petroleum industry.

    The National Petroleum Policy articulates a vision for Nigeria to become a nation “where hydrocarbons are used as a fuel for national economic growth and not simply as a source of income.” The Policy recognises that Nigeria “must develop a petroleum industry where the value added in oil stream is realized, combined with a move towards a gas based industrial economy and that the future for oil producers lies in developing a value added sector of refining and petrochemicals” given the volatility in oil and gas prices. The Policy envisions a strong refining sector, which will transition the refineries from selling only capacity to selling both capacity and products.

    Its Chairman, Adetunji Oyebanji, who stated this in a communiqué after MOMAN’s Chief Executive Officers’ (CEOs’) strategy retreat in Abuja on the way forward for a sustainable and viable downstream sector, said the two-day retreat recognised the outstanding work done by the Nigeria National Petroleum Corporation (NNPC) to ensure continuous supply of petroleum products in 2018 and 2019, especially during the election period.

    The Federal Executive Council on July 19, 2017  approved the National Petroleum Policy (NPP), which articulates a vision for Nigeria to become a nation “where hydrocarbons are used as fuel for national economic growth and not simply as a source of income”.

    He also lauded the improved collaboration between NNPC and MOMAN, especially PPMC, which he said, contributed significantly to the outcome. He added that the association would proactively collaborate with government towards the development of the downstream petroleum industry, including renewable and alternative energies in Nigeria.

    The MOMAN chair said the association is poised to optimise and reduce supply chain costs through better collaboration and use of technology. He added that MOMAN will ensure development and compliance with an industry self-regulatory regime to support the industry regulator and raise Nigeria’s safety, technical and quality standards in fulfillment of the government’s national petroleum policy. “MOMAN is committed to improving customer service and the deployment of technology in the protection of the customer and ultimately the business.”

    Oyebanji assured of training and development of Nigerians in important disciplines, including engineering, management and strategy. According to him, the Association will also establish a think-tank of professionals to tackle industry issues and proffer workable solutions to identified problems.

    Part of its strategic policy objectives, he said, was to create a market-driven oil and gas industry, cost efficient storage, transportation and distribution of petroleum products.

    He reiterated MOMAN’s plans to strengthen its support to the Federal Road Safety Corps (FRSC); the Department of Petroleum Resources (DPR); Petroleum  Products Pricing Regulatory Agency (PPPRA); Standards Organisation of Nigeria (SON) and other regulatory agencies, which impact the downstream to improve product transportation.

    “We also acknowledge that we need to support the regulatory agencies by adopting internal self-regulation practices if we want the industry to operate at acceptable international levels.

    “MOMAN will focus on service to the Nigerian customer at retail outlets and towards this purpose to use training of forecourt employees, managerial competencies development and technology to ensure that the Nigerian customer gets full value for the products and services he/she is paying for,” Oyebanji added.

    He also affirmed MOMAN’s intention “to have a more inclusive MOMAN and begin the process of opening our doors to new members, as well as share our savoir-faire and international best practices from our heritage and experience of over a hundred years in the industry”. He said the association will continue to strengthened partnership with NNPC to ensure seamless supply of petroleum products across the country.

  • MOMAN advises Fed Govt on downstream sector policy

    The Major Oil Marketers Association of Nigeria (MOMAN) has urged the Federal Government to give the downstream arm of the petroleum industry policy direction to prevent it from collapse.

    The oil marketers condemned the neglect of the sub-sector.

    Speaking during an interactive session with reporters in Lagos at the weekend, its new Chairman, who doubles as the Managing Director of 11Plc (formerly Mobil Oil Nigeria Plc), Mr. Adetunji Oyebanji, stressed the need for a five-year policy direction to secure the future of the sub-sector.

    “There must be a policy direction that will put the industry on a sound footing for the future,” he argued.

    He said: “Industry framework should be reviewed, legislation like the Petroleum Industry Bill (PIB) should be passed. Without this, we have an industry that is naturally dying.”

    MOMAN members, he said, were suffering from lack of policy direction for the subsector.

    According to him, “once there is no scarcity of fuel, people don’t care about what is going on in the distribution value chain. Jobs are being lost, other companies that provide logistics for the sector are dying. In the long run, it will have a negative impact on the economy as a whole.

    “The entire value chain needs to be catered for through government policy. Most international oil companies have divested from the downstream sector, others have closed their terminals and this is not good for the industry.”

    He said the unattractiveness in the downstream sector was due to regulation and stressed the need for deregulation.

    “Nigerian National Petroleum Corporation (NNPC) is the sole importer of premium motor spirit (PMS) also called petrol due to non-payment of fuel subsidy debt.

    “We are tied to a margin that we cannot adjust. Poor profit margin, low investment in infrastructure, such as pipelines, tank farms, depots and trucks are factors hindering growth in the sector,” he added.

    On the recent part payment of the subsidy debt by the Federal Government, he said “a promissory note was raised to cover part of the legacy debt. “We have issues with the banks on how to liquidate the notes. We are still expecting payment of the next tranche in near future,” he said.

    Reconciliation is ongoing between marketers and the Petroleum Products Pricing Regulatory Agency (PPPRA) is still ongoing.

    “In fact, the Central Bank of Nigeria (CBN) has directed commercial banks to stop interest charges on the debt effective 1st July 2017.”

  • MOMAN gets new executive secretary

    Mr. Clement Isong is the new Executive Secretary of Major Oil Marketers Association of Nigeria (MOMAN).

    He succeeds Mr. Obafemi Olawore, who has retired from the organisation, after 17 years of service. He is the first executive secretary.

    Isong, at a briefing in Lagos, said Olawore would be missed.

    According to him, Olawore at several times championed the need for the liberalisation of the downstream sector of the oil and gas industry to attract more investments.

    Isong said though Olawore came at a time of great uncertainty, he advanced the objectives of the organisation.

  • NNPC deploys 50-fuel-laden trucks in Lagos to end queues at filling stations

    NNPC deploys 50-fuel-laden trucks in Lagos to end queues at filling stations

    The Nigerian National Petroleum Corporation (NNPC) on Monday appealed to motorists in Lagos State not to embark on panic buying of petrol because it had increased the fuel-laden trucks supplying fuel  to the city/state by 50 trucks

    Mr Ndu Ughamadu, the Corporation’s Group General Manager, Group Public Affairs Division, told the  the News Agency of Nigeria (NAN) in Lagos that the queues at filling stations would soon vanish with the new development.

    He said that the members of the public should not indulge in storing petrol in their homes because additional 50 trucks of petrol had been released to Lagos.

    Read Also: NNPC ‘releases 250 trucks of petrol’

    “About 250 trucks have begun to discharge petrol to Lagos compared to less than 200 trucks allocated to Lagos at the weekend.

    “Motorists are advised to avoid hoarding and panic buying of petrol as the NNPC has sufficient product in stock that will last several days,” he said.

    Ughamadu  attributed the sudden scarcity of petrol being experienced to a slight change in the distribution network in Lagos.

    According to him, Lagos is currently being supplied by members of the Major Oil Marketers Association of Nigeria (MOMAN).

    The NNPC spokesperson also acknowledged that there was a slight hitch at the Port Harcourt Refinery which he said was caused by power problem.

    “The Port Harcourt Refinery is slightly down for now, pending when the problem will be rectified,” he said.

    Meanwhile, NAN reports that hawkers had begun to capitalise on the situation to sell petrol to the public at exorbitant prices.

    The hawkers had been selling the commodity for  between N200 and N300 per litre.

    At Fadeyi on Ikorodu Road, a hawker sold a five-litre gallon of petrol for N1,500 instead of the official price of N725.

    Also, commercial transport operators had increased their fares by about 50 per cent.

    A trip to Oshodi from Costain now goes for N150 from its former N100 while Oshodi to Sango Ota in Ogun attracts N300 as against the former N200.

    NAN

  • Scarcity amid plenty

    Nigerians last week Monday woke up in most parts of the country to face the ugly oil distribution palaver of the past.

    Scarcity of Premium Motor Spirit (PMS), popularly called petrol, hit most cities resulting in long queues and traffic gridlock.

    While some of the petrol stations did not open for business, those that were open were overwhelmed as others sold the product above the N145 ceiling price for one litre.

    The fuel scarcity was a major one since the increase of the pump price of petrol to N145 per litre in May 2016.

    The hike in price of the product in 2016 effectively ended the scarcity and long queues for the product which was very rampant under the past administration.

    Then many Nigerians had to suffer to buy the product, with  which the country is abundantly endowed. In most cases they had to sleep for many days on fuel queues at petrol stations.

    The factors responsible for the latest scarcity, however, appeared to be beyond the government authorities in charge.

    To government officials, the scarcity was artificially created as the quantity of fuel in the country could not be exhausted till end of January 2018.

    Some Nigerians believe that the scarcity was a result of manipulation by oil marketers to make brisk incomes as some of the petrol stations have already increased the price of the product to N165 and above for a litre of fuel.

    Others saw it as the seasonal hardship normally Nigerians usually encounter eeks to Christmas celebration and other major festive periods.

    The scarcity has also resulted in accusations and counteraccusations among the stakeholders on the actual cause of the problem.

    Last week, the Independent Petroleum Marketers Association of Nigeria (IPMAN) claimed that the Nigerian National Petroleum Corporation (NNPC) was delaying the loading of its members’ trucks at depots.

    IPMAN, had claimed that the private deports, belonging to Major Oil Marketers’ Association of Nigeria (MOMAN) were supplying IPMAN members above the regulated pump price.

    On the other hand, the Depots and the Petroluem Marketers Association of Nigeria (DAPMAN) accused IPMAN of being economical with the truth.

    DAPMAN claimed that it has been supplying its members’ retail outlets at the official price.

    But the good news about the fuel scarcity problem was that the government agencies in charge have been given matching orders to make sure the scarcity ends by last weekend.

    The Minister of Information, Alhaji Lai Mohammed had said “The Minister of Petroleum had assured the Council that we have enough products till the next one month even till the end of January.

    “Thirdly, this is winter period. There is always more demand for refined products for petroleum during winter period in the colder countries, this is what we are experiencing now.

    “Also that it has been the NNPC that has been importing but he has assured. The council gave him a matching order that this fuel scarcity should not last beyond this weekend and they are going to work very hard to ensure that it is curtailed. He assured council that there is actually no cause for alarm.”

    Stressing that the scarcity was not part of any plan by the government to increase pump price of the product, he said “No. The government has no intention at all to increase the pump price of PMS.”

    But the government’s intervention should not end with clearing the scarcity of the product if it is really true that the supplies of petrol presently in the country will last till end of January.

    There should be a way to check the marketers and prevent them from taking Nigerians for a ride at will.

    Urgent measures should be taken by the relevant agencies of government for checks and balances to determine the cause of the scarcity in other to prevent future occurrence.

    They should be up and doing in their inspectorate and supervisory functions over the oil marketers.

    They should find out if the oil marketers were really the cause of the artificial scarcity.

    Some of the questions they should find answers to include ‘Why did most petrol stations selling up till end of November 2017, suddenly locked their stations first week of December?’, ‘Do they really have fuel in their fuel tanks and refused to see?’ ‘Why are some of the marketers selling above the government approved price per litre?

    During the week, many Nigerians applauded the report claiming that some officials of the Department of Petroleum Resources (DPR) sealed up four filling stations in Edo State for selling fuel above government price of N145 per litre.

    But that is not enough because there are many of such petrol stations across the country trying to cut corners in this period.

    The government agencies should also not shy away from recommending appropriate sanctions for any erring oil marketer to act as deterrence.

    The government should also beam its searchlight at the nation’s porous borders to know if the fuel meant for consumption in the country are again finding its way to neighbouring countries.

    Race for number one seat 

    Major political parties in the country are yet to pick their presidential candidates for the forthcoming 2019 presidential elections, let alone the smaller politically parties.

    Neither have the parties signal the beginning of their election campaign.

    But the race for the number one public seat in the country appears to be gathering momentum.

    Latest utterances in the polity across the country are clearly showing that the race for the seat is already on.

    If the February 2019 proposed date for the conduct of the elections by the Independent National Electoral Commission (INEC) is anything to go by, the current administration still has minimum of fourteen months to deliver the goods to Nigerians.

    As much as possible, distractions should be avoided for the long time benefit of Nigerians. They should get value for money in all areas of governance.