The Major Energies Marketers Association of Nigeria (MEMAN) hosted an insightful webinar with the theme “Fuel Pricing.” The event provided a platform to deepen understanding, address misconceptions, and reaffirm unwavering commitment to transparency in Nigeria’s energy sector.
The webinar featured two robust sessions:
- Market Trends, Transparency, and Fair Pricing: Delivered by Mr. James Gooder, Vice President of Crude Oil at Argus Media, this presentation emphasized the critical role of logistics and pricing parameters in determining PMS (Premium Motor Spirit) costs. Mr. Gooder highlighted how infrastructure upgrades—such as deeper jetties and larger vessels—could significantly reduce logistics expenses. He also examined the impact of exchange rates and crude oil prices on PMS landed costs, commending MEMAN’s use of average pricing models to stabilize the market amid volatility.
- Understanding Key Factors Shaping PMS Delivery Costs: Presented by Mrs. Ogechi Nkwoji, MEMAN’s Head of Economic Intelligence, Research, and Regulation, on behalf of the CEO, this session provided an in-depth analysis of the factors influencing PMS pricing across Nigeria. Mrs. Nkwoji outlined MEMAN’s initiatives to strengthen market stability and enhance consumer confidence.
MEMAN members have achieved significant milestones in PMS distribution over the last 10 weeks, loading over 251,797,142 litres of PMS from the Dangote Refinery. This includes 148,463,142 litres transported by trucks from the refinery gantry and 103,334,000 litres delivered to Apapa depots via vessels. While truck loading was initially prioritized, vessel transportation has proven more efficient, leading to a reduction in truck dispatches. The Dangote Refinery remains one of our preferred supply choices, with imports supplementing any shortfalls in full compliance with the law. This event reaffirms MEMAN’s commitment to transparency, market stability, and informed dialogue as we continue to serve the energy needs of Nigerians responsibly and efficiently.
Comment here