MOMAN members are capable of importing petrol – chairman  

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Lagos, July 11, 1022 – Mr Olumide Adeosun, the Chairman of the Major Oil Marketers Association of Nigeria (MOMAN), has urged the Federal Government to allow marketers to import petrol to further liberalise the market.

Adeosun, who is also the Chief Executive of Ardova Energy, told journalists in Lagos on Tuesday that his members had the capacity to import petrol.

“The reality is that many of us have import licences that have never lapsed.

“We renew them on a quarterly basis via the NMDPRA portal. Some of us are also importing diesel, so we need the licence,” Adeosun said.

“The licence cover multiple products such as ATK, PMS, and AGO.

“The regulator will tell you that we need them even when we are receiving products from the Nigerian National Petroleum Company Limited (NNPCL), particularly on the high sea.”

Adeosun said the challenges to importation would be reduced if marketers were allowed to complement the efforts of the NNPCL in importing petrol.

Adeosun also stressed the need for efficiency in the importation and delivery process of petroleum products into the country to offset the shortcomings of the foreign exchange market.

“That has often been the case when aligning with the NNPCL operating regime.

“Efficiency has always been at the forefront, and subsidies will absorb all of that. As for us, we own the vessel, depot, trucks, and retail outlets, so we can afford to optimise efficiency,” he said.

Adeosun also called on the government to implement favorable regulatory frameworks, provide incentives for renewable energy projects, and encourage research and development in clean technologies.

“This new found commitment to alternative fuels is not only driven by environmental concerns, but also by the economic and social benefits associated with a transition to a sustainable energy future.

“By embracing alternative fuels and renewables, government is not only leading the way toward greener and more resilient future, but also fostering innovation, job creation, and energy security for our country,” he said.

Adeosun applauded the federal government for the deregulation of the petroleum downstream sector and the unification of foreign exchange rates.

He, however, said that there was the need for the federal government to now focus on the welfare of the people after addressing the issues of foreign exchange and fuel subsidy.

The oil marketer highlighted the importance of productivity in the country’s development and called on the government to address issues of insecurity, increased productivity in the oil and gas sector as well as the rising cost of food and transportation.

He also applauded the federal government for the establishment of a committee on fiscal policy and tax reforms, but appealed to the government to reconsider the proposed 7.5% VAT on diesel, as it would further add to the burden of Nigerians.

He urged the government to consider subsidy on transportation and tackle challenges such as insecurity, crude oil theft, as well as fuel and power subsidies. (GBN)

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