Oredola Adeola

Amidst potential fuel crisis due to ongoing tanker drivers’ strike, the Major Oil Marketers Association of Nigeria (MEMAN) has stepped in, assuring that individual marketers and their respective transporters  are negotiating a solution that will keep the petroleum products supply chain running smoothly.

It has also dispelled rumours of a rift with National Association of Road Transport Owners (NARTO) and the Petroleum Tanker Drivers (PTD).

MEMAN made this known in a statement obtained by Advisors Reports following the commencement of strike action by the transporters on Monday, February 19, 2024, leading to concerns about the scarcity of petroleum products across the country.

Advisors Reports can confirm that NARTO and PTD initiated the strike after failing to reach an agreement with the marketers regarding the need to increase transportation rates due to the rising diesel prices, which currently range between N1,250 to N1,400 per litre depending on the area of purchase.

Yusuf Othman, President of NARTO, had in a recent statement stated that the withdrawal of services by his members was a result of their members spending more on operations than they receive in total, both in local and bridging operations.

In response to NARTO’s statement, MEMAN therefore emphasized its adherence to the Petroleum Industry Act and FCCPC Act, which prohibit jointly setting rates.

The Major Marketers highlighted that pump price deregulation promotes healthy competition and encourages cost-reduction measures for better customer value.

It also stressed the need for all stakeholders, including operators and MDAs, to collaborate in optimizing the supply chain for affordability amid the challenging environment.

Furthermore, MEMAN stated that individual marketers are currently engaged in discussions with their respective transporters to ensure fair rates and a smooth supply chain.

The Marketers underscored its commitment to sustainable solutions in cooperation with relevant stakeholders, recognizing the complexities of the industry.

MEMAN’s response aims to address any speculation of discord and reaffirm its dedication to fostering a collaborative and competitive energy market while ensuring a stable and efficient supply chain for petroleum products in Nigeria.