Sopuruchi Onwuka

Leading energy supply group in the domestic fuel market, the Major Energies Marketers Association of Nigeria (MEMAN), is calling on all stakeholders in the downstream petroleum industry to collaborate in pushing the ongoing deregulation and liberalization to expected end.

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The group which hosted a workshop for media executives in Lagos on Wednesday stated that collaboration has become critical as the domestic market encounters the direct impact of global pricing and supply dynamics following dismantling of public sector monopoly.

In a communiqué after the workshop which was themed ‘Refinery Basics, Gasoline Pricing & Trade Flows in Nigeria,’ the group pointed at changing supply patterns and pricing dynamics, noting that “this transition requires patience, adaptation, and trust.”

“As the market stabilizes, challenges will arise, and resistance from those accustomed to price control is inevitable,” MEMAN added.

The Oracle Today reports that the workshop and intended public enlightenment came as price war in the domestic fuel market is accentuated by the prevailing supply feud between the Nigerian National Petroleum Company (NNPC) Limited and the Dangote Refinery Limited.

The deregulation of the domestic market at a time Dangote completed and commissioned its refinery had seen the NNPC Limited struggling to earn itself a share of the market it hitherto controlled. The situation arose as liberalization of the market created additional supply channels from local and offshore refineries.

MEMAN which had earlier called for transparent pricing dashboard to protect the domestic market from possible oligopoly called on both industry and market regulators to lead collaboration among all players in the domestic fuel market.

“As key industry stakeholders, MEMAN strongly supports the role of regulatory agencies such as the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and the Federal Competition and Consumer Protection Commission (FCCPC) in ensuring a fair, competitive, and well-regulated marketplace.

“It is imperative that their efforts remain focused on market stability, consumer protection, and building public confidence in the reform process.

“MEMAN affirms that the implementation of the Petroleum Industry Act (PIA) remains firmly on track. While ongoing debates and discussions are expected, they should be encouraged as part of the natural evolution of a market-driven energy sector. The transition from a state-controlled system to a competitive, deregulated market is essential for fostering efficiency, transparency, and long-term economic growth,” the group declared in a communiqué.

The group argued that regulation led collaboration in the domestic fuel market would enable delivery of key economic aspirations of the government in the downstream petroleum industry.

“With robust regulation, industry collaboration, and public transparency, Nigeria can fully realize the benefits of this transformation,” MEMAN stated, adding that “a well-functioning, deregulated market will attract more investment, improve efficiency, and create a more competitive landscape that benefits both businesses and consumers.”

The MEMAN’s Q1 2025 Press Training & Engagement brought industry experts together to provide critical insights into the evolving energy sector.

The session featured two distinguished speakers including petroleum refining expert, Engr. Mark Williams, FNSE, FNSChE, who delivered an in-depth presentation on the fundamentals of refining crude oil, the types of refineries, and the key processes involved.

The Vice President in charge of Crude Oil at Argus Media, James Gooder, led a session on gasoline pricing and the benefits of adopting trade and product flows. His session at the event highlighted how global pricing mechanisms influence Nigeria’s downstream market.

“Engagements like this, which foster industry dialogue and thought leadership, are precisely what MEMAN expects, encourages, and believes are essential for market growth and development,” MEMAN declared.