Major Oil Marketers Association of Nigeria, (MOMAN), have blamed the current scarcity of kerosene on lack of foreign exchange and the importers preference to importation of Jet A1.
The association also advised the federal government to review policy of Liquefied Petroleum Gas, LPG, or known as cooking gas importation as that will derail the Decade of Gas and other gas development initiatives.
Executive secretary and chief executive officer, MOMAN, Mr Clement Isong,mwho was responding to LEADERSHIP questions on kerosene scarcity and rising LPG price during the inauguration of the Association’s new chairman said that taxation of imported LPG and allowing its importation will impede key gas commercialisation programmes.
Isong, further noted that the price increase of the product is also because the country is not producing enough and called for a concerted effort to upscale domestic production given the country’s abundance gas reserves.
LEADERSHIP reported recently that the Nigerian Liquefied Natural Gas, NLNG, limited denied contributing to shortages and escalating prices of LPG, in the domestic market.
The company clearly stated that it is an export oriented entity distinctively exporting Liquefied Natural Gas, LNG, and Natural Gas Liquids, NGL.
The new chairman of the Association, Mr Olumide Adeosun, in his acceptance speech called for accelerated implementation of the Petroleum Industry Act, PIA, with regard to liberalization of the downstream sector.
Adeosun, who is the chief executive officer, Ardova Plc, on Thursday assumed leadership of the Association, revealing that the body has made strong recommendations to the PIA implementation committee with regard to how the industry should be made to attract investment and help in sustaining the national economy.
Adeosun, succeeded Mr Tunji Oyebanji, chief executive officer, 11 Plc, who has been piloting the affairs of MOMAN since 2019.
He holds an M.Sc in Mathematics from Royal Holloway College, University of London and graduated from Woodbury University, California with a B.Sc in Architecture.
Before his appointment as the boss of Ardova Plc, Adeosun played leading roles in the Energy and Power (West Africa) Practice at PwC.The roles include Head of Strategy Consulting for West Africa and Head of Capital Projects and Infrastructure.
He served as a consultant to British Petroleum (BP) Plc. and later appointed as the Vice President, Commercial Development and Operations for BP’s Nigeria Trading business.
Adeosun lauded his predecessor for his vision, support and leadership of the association.
He said he would continue to treasure the roles played by Oyebanji as well as count on him for requisite inputs in running the affairs of MOMAN
He added: “I feel very privileged for the opportunity to serve as the Chairman of MOMAN in such an exciting time for our industry.As a collective, we are at cusp of new beginnings for the sector and I envisage that as we move towards less price-controlled reality, our journey will make for interesting times.”
Speaking, Oyebanji recalled that inspite of the hitches posed by the COVID-19 pandemic, the association survived same played vital role in national economic development.
According to him,MOMAN donated N250 million to the Nigerian National Petroleum Corporation (NNPC) initiative to nip in the bud COVID -19 pandemic,just as he informed that the association embarked on self-regulation by ensuring that members complied with best safety practices in their operations
Mr Clement Isong, Executive Secretary and Chief Executive Officer, MOMAN, in his closing remarks commended Oyebanji for his sterling contributions to the association,adding that it was under his leadership that the association became for industry best practices.
According to him,Oyebanji’s tenure spearheaded MOMAN’s engagements on various issues including the PIB, Petroleum Support Fund outstanding subsidy discourse and margin adjustment with the Petroleum Products Pricing and Regulatory Agency.