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Oil marketers pledge support for fuel price reduction

By Temitope Akintoye,

Nigerian petroleum products marketers under the aegis of Major Marketers Association of Nigeria (MOMAN) have pledged support for the recent reduction of PMS pump price from N145 to N125 per litre, saying that the body would always be in support of policies which would ease living conditions and better the lives of Nigerians.

The body, which expressed its approval of the price reduction directive, explained that though no formal statement had been issued by the government, such policy implementations went a long way in helping Nigerians who, it said were already feeling bite of harsh economic conditions in the country.

According to the Chairman, MOMAN, Tunji Oyebade, the body and its members were ready to accept and trade in concordance with the government directive, and that it was expected that the reduction would benefit both the Nigerian populace and its teeming members.

Speaking through a statement released to the press on Wednesday, Oyebanji reiterated that the association had the best interests of Nigerians at heart and assured the country that its members would do their best to support the pump price reduction.

He added that though details were as yet unclear as to certain modalities surrounding such reveiw of the fuel pump price, the body and its members would patiently wait to receive full information, of which they were certain to be in support of.

The union leader said that the association was optimistic that the process would be beneficial to the downstream sector of the oil and gas industry, adding that the body would only be sure following release of full details on all modalities surrounding the price reduction.






“We (MOMAN) will do whatever in our power to make whatever policy government is coming up to work. We are assured that in implementing this policy, government, will have the best interest of industry at heart as we looked forward to getting other details,”

“We are not sure whether it’s a reduction or a complete deregulation. It is a bit difficult to say now, but we hope that in the process marketer’s margin will be improved within the industry, so as to attract more investment that people will invest in the business,”


“If our facilities and operations are safe it will makes delivery more efficient. We hope all these will be included in the package”.

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