The Major Energies Marketers Association of Nigeria (MEMAN) has said that its members have a significant stock of petroleum products in their tanks and/or access to a significant stock of products in the tanks of their suppliers (including Dangote Refinery and NNPC Trading Limited).
It added that there is a clear line of sight on future supplies for all petroleum products.
Chief Executive Officer, MEMAN, Clement Isong, in a statement on Thursday, also urged the public not to panic-buy petroleum products, as according to it, its supply efficiency continues to improve, and logistics optimization begins to set in.
It would be recalled that Nigerians have, for many weeks, been experiencing scarcity of fuel.
Isong said: “In light of several inquiries from the press regarding a perceived tightness in the petroleum supply market, the Major Energies Marketers Association of Nigeria (MEMAN) wishes to assure the general public and all stakeholders that we have significant stock of products in our tanks and/or access to significant stock of products in the tanks of our suppliers (including Dangote Refinery and NNPC Trading Limited), and a clear line of sight on future supplies for all petroleum products.
“The benefit of diversification of supply and deregulation is that diligent marketers can plan and book in advance for their supply needs and make adequate adjustments and alternative arrangements in advance to avoid product outages.
“MEMAN does not envisage any outages of petroleum products in the immediate future or in the near term.
“We urge the public not to panic-buy petroleum products, as our supply efficiency continues to improve, and logistics optimization begins to set in.
“MEMAN members shall continue to do all within their power to optimize their supply and logistics costs and efficiency to ensure the highest level of availability, accessibility and affordability for their customers in the increasingly competitive environment.”
