June 22, 2024
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OIL & GAS

Nigeria: MEMAN to Lift 300m Litres of Petrol This Week

The Major Energies Marketers Association of Nigeria (MEMAN) announced the commencement of loading over 300 million litres of premium motor spirit (PMS) this week, amidst reports of product scarcity.

MEMAN revealed this development in a statement released on Tuesday, indicating that its members, particularly those in Apapa and other locations in Lagos, are actively engaging with eight vessels to secure the substantial PMS volume. “This exceeds our typical loading levels,” MEMAN emphasized.

In light of the supply challenges, MEMAN is coordinating closely with member companies, employing swaps and other supply arrangements to ensure adequate stock levels at member stations.

The association further extended loading times at depots to maximize throughput, with plans to continue operations, including on May 1, 2024.

Assurances of support have been received from partners in the Nigerian Association of Road Transport Owners (NARTO) and Petroleum Tankers Drivers (PTD), pledging safe and prompt delivery of the product to retail outlets.

Nigeria: NNPC Vows to Clear Long Queues and Fuel Scarcity by Wednesday

MEMAN empathized with Nigerians facing hardships due to the petrol scarcity and ensuing queues, reaffirming its commitment to transparency and timely updates.

It highlighted the engagement of the Downstream Regulator, NMDPRA, and other stakeholders to mitigate the situation swiftly.

MEMAN expressed optimism that supply chain adjustments will improve the situation in the coming days. This announcement comes amid the resurgence of queues at filling stations, contributing to escalated transport costs.

While logistical challenges were cited by the Nigerian National Petroleum Company (NNPC) Limited on April 25, they assured the public of resolution. NNPC reiterated on April 30 that the ongoing shortfall in petroleum product supply would be resolved by May 1.

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