• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Thursday, July 10, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

MOMAN Reiterates Support For Energy Transition, Safety In Downstream Operations

by Chika Izuora
3 years ago
in News
MOMAN chairman, Olumide Adeosun

MOMAN chairman, Olumide Adeosun

Share on WhatsAppShare on FacebookShare on XTelegram

The Major Oil Marketers Association of Nigeria (MOMAN) has reiterated its support to Nigeria’s energy transition plan and efforts of the Federal Government to actualise its net zero carbon emission target by 2060.

Advertisement

MOMAN also said it had within the last one year organised several trainings for its members to improve efficiency and safety in the petroleum downstream sector operations.

MOMAN chairman, Mr Olumide Adeosun, made these known at a news briefing to mark his first year anniversary as the chairman of the association on Friday in Lagos.

Adeosun said “our members are committed to the energy transition and the sustainable decarbonisation of our respective businesses.

“As a collective, we have embarked on several impactful initiatives and projects that signals that commitment to cleaner energy.”

RELATED

Residents Applaud Mbah, Police Intervention In Enugu Community Killing

Police Roll Out Massive Security Measures For July 12 Local Gov’t Elections In Lagos

4 hours ago
In A Special Video Message To Sway Voters For Tinubu, Buhari Vows To End Current Hardship

We’ll Build On Buhari’s Legacy, Reform Agenda — Tinubu

5 hours ago

According to him, MOMAN has been engaging with the National Gas Expansion Programme (NGEP) to drive the expansion of the use of gas in Nigeria.

He said the association had recently reviewed the contents of the Federal Government’s Auto Gas policy and have sent in a memorandum with the association’s input to the policy.

“My members are ready to move as long there is regulatory and policy clarity,” he said.

Adeosun, who is also the Chief Executive of Ardova Plc, said as part of these efforts, the company had invested in the construction of a 20,000MT Liquefied Petroleum Gas (LPG) storage facility in Ijora, Lagos.

He said this new capacity which would come on stream in 2023 would enable economies of scale for coastal gas delivery and help deepen the adoption of LPG as the cooking fuel of choice nationwide.

Adeosun also reiterated MOMAN’s position for the petroleum downstream sector going forward, especially with regards to the continued payment of fuel subsidy by the government.

He said: “We have tabled our recommendations to the government on our considered view on subsidy removal approach.

“It can best be summarised as full deregulation in phases. These huge subsidy payments are simply not sustainable.

“The Government should focus on palliatives for Nigerians such as mass transit, improve power supply, agriculture, education etc.

“Government may subsidise sectors that would stimulate sustainable economic growth.

“Overwhelmingly the right course of action is a clear trajectory towards full implementation of the Petroleum Industry Act 2021 as it is a very well thought out legislation that would ultimately cause the petroleum industry in Nigeria to grow. ”

Listing some of the achievements of his administration in the past one year, Adeosun said it included engagements with stakeholders such as the Ministry of Petroleum Resources, the National Assembly and the Federal Competition and Consumer Protection Commission.

He said MOMAN had also engaged the Nigerian Midstream and Downstream Petroleum Regulatory Authority, Dangote Refinery and the Nigerian National Petroleum Company Limited and the media.

“These engagements have all been in a bid to ensure that downstream positions and our customers’ interests are well articulated and documented.

“The goal has always been to develop good working relationships with the regulator and positively impact the petroleum sector,” Adeosun said.

The MOMAN chairman said members companies, being the heritage of International Oil Companies (IOCs) who have operated in Nigeria in some cases for over 100 years, were the custodians of years of operational experience and evolved industry competencies.

He said: “It was our opinion that under investment arising from years of operation under the subsidy regime has led to a degradation of equipment, industry knowledge and practices.

“In response, MOMAN established regional collaborations with other industry associations across Africa. We share best practices and collaborate on various fronts”.

“We have therefore pooled our resources and recently published compendiums of best practices for the downstream industry in Nigeria” he concluded.


We’ve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone. Don’t settle for stale news. Join LEADERSHIP NEWS on WhatsApp for 24/7 updates →

Join Our WhatsApp Channel



Tags: MOMAN
SendShareTweetShare
Previous Post

A Black Sunday Night In September

Next Post

Aimee Alakija Bursts Out with Prayer For Nigeria

Chika Izuora

Chika Izuora

You May Like

Residents Applaud Mbah, Police Intervention In Enugu Community Killing
News

Police Roll Out Massive Security Measures For July 12 Local Gov’t Elections In Lagos

2025/07/10
In A Special Video Message To Sway Voters For Tinubu, Buhari Vows To End Current Hardship
News

We’ll Build On Buhari’s Legacy, Reform Agenda — Tinubu

2025/07/09
Property Dispute: Developer Denies Receiving EFCC’s Letter Over N102m Draft
News

Property Dispute: Developer Denies Receiving EFCC’s Letter Over N102m Draft

2025/07/09
First Time In 7 Months, Crude Production Output Drops To 1.26mbpd
News

Delineation: Delta Communities Threaten To Disrupt Oil Facilities Over Alleged Marginalisation

2025/07/09
Jigawa Court Sentences 2 Kidnappers To 28 Years Imprisonment
News

Federal Gov’t Begins Trial Of Batch 7 Suspected Terrorists

2025/07/09
Trump Faces Backlash For Praising Liberian President’s Fluent English
News

Trump Faces Backlash For Praising Liberian President’s Fluent English

2025/07/09
Leadership Conference advertisement

LATEST

Dominant PSG Thrash Real Madrid 4-0 To Reach FIFA Club World Cup Final

Police Roll Out Massive Security Measures For July 12 Local Gov’t Elections In Lagos

We’ll Build On Buhari’s Legacy, Reform Agenda — Tinubu

Property Dispute: Developer Denies Receiving EFCC’s Letter Over N102m Draft

Zamfara Gov Distances Self From APC, Says He’s Still In PDP

Delineation: Delta Communities Threaten To Disrupt Oil Facilities Over Alleged Marginalisation

19 Parties To Contest Ibadan North By-election

Federal Gov’t Begins Trial Of Batch 7 Suspected Terrorists

2027: ADC Candidate ‘ll Emerge Via Primary Election, Says Lukman

Djokovic Beat Cobolli To Reach 14th Wimbledon Semi-finals

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.