Over the last 10 weeks, more than 251,797,142 million litres of premium motor spirit (PMS), purchased from the Dangote Refinery have been distributed across Nigeria by members of the Major Energy Marketers Association of Nigeria (MEMAN). This comprises 148,463,142 million litres transported by trucks from the refinery gantry and another 103,334,000 million litres delivered to Apapa depots via vessels.
This was disclosed on Wednesday 27 November, 2024 during the MEMAN quarterly media briefing. According to Mr Clement Isong, CEO of MEMAN, this milestone highlights the group’s efforts to stabilize fuel supply across the country both from the refinery and with additional volumes from import.
It also highlights MEMAN’s strategic shift towards vessel transportation, which has proven more efficient than relying solely on truck logistics.
“Initially, we prioritized truck loading to meet immediate demands, but we quickly realized the efficiency and reliability of vessel transportation. This has significantly reduced the number of trucks dispatched from the refinery,” affirms MEMAN.
Mrs. Ogechi Nkwoji, MEMAN’s Head Economic Intelligence, Research and Regulation, who examined the key factors affecting the cost of delivering petroleum products across Nigeria. Ogechi represented MEMAN’s Executive Secretary,
Mr. Clement Isong, in the course of the briefing gave an in-depth analysis of the elements shaping pricing. Represented by Mrs Ogechi Nkwoji, he highlighted MEMAN’s efforts to foster market stability and boost consumer confidence.
Nkwoji, who is the Head, Econmic Intelligence, Research and Regulation of MEMAN, made her presentation during the second session of the briefing, focused on the key factors affecting the cost of delivering petroleum products across Nigeria.
The association further confirmed that Dangote Refinery is currently its major source for PMS, with imports utilized as stop gaps. MEMAN assured the public that all operations are conducted in full compliance with legal regulations.
“Our partnership with the Dangote Refinery is a crucial step towards ensuring a steady supply of PMS nationwide. We remain committed to supplementing supplies with imports when necessary, always adhering to the highest standards of regulatory compliance,” MEMAN said.
