2 weeks Ago By Mohammed Shosanya
LAGOS – The Major Energies Marketers Association of Nigeria, has cautioned Nigerians against panic buying of fuel, saying its members have enough stock of the product. Clement Isong, the association’s Chief Executive Officer, gave the advice in a statement against the backdrop of perceived scarcity in the petroleum supply market. He said: “MEMAN wishes to assure the general public and all stakeholders that we have significant stocks of products in our tanks and/or access to significant stocks 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.
According to him, 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, he said, does not envisage any outages of petroleum products in the immediate future or in the near term. He added: “We urge the public not to panic-buy petroleum products, as our supply efficiency continues to improve, and logistics optimization begins to set in.
” He assured that the association’s members would 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..
