May 20, 2024
MOMAN pushes for fuel subsidy removal
– By Godswill Odiong

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–As Adeosun takes over as Chairman

By Eyo Nsima

Major Oil Marketers Association of Nigeria, MOMAN, has urged the federal government to deregulate the nation’s downstream sector without further delay in line with the provisions of the Petroleum Industry Act.

The new Chairman of MOMAN, Mr. Olumide Adeosun, who made the call at a virtual press briefing to announce his taking over from his predecessor, Mr. Tunji Oyebanji, its position has already been made known to the government.

Specifically, he said: “Making the transition to a fully competitive pricing oriented downstream sector will require the collective engagement and resolve of all stakeholders. I assure you that MOMAN will continue to be at the forefront in bridging the government and the private sector in ensuring that Nigeria has a viable energy sector.

“We will continue to sustain the engagement and the creation of initiatives that will make the implementation of this law a shared success for all concerned parties.

“The world around us is changing rapidly and the oil and gas industry has proven to be one of the most exposed to the winds of this change. The breakout of the Covid-19 pandemic and the ensuing measures designed to curb its spread, lockdowns and working from home has shaped a new reality that challenges our operating structure.”

Adeosun, who is also the Chief Executive Officer, CEO of Ardova Plc, said: “I believe that Nigeria can and will become the energy hub of Africa. MOMAN plays a very important role in achieving this vision in the downstream sector because no singular company makes a flourishing sector”.

However, the out-gone Chairman, Tunji Oyebanji thanked MOMAN members for the support he received during his term.

Also, the Executive Secretary of MOMAN, Mr. Clement Isong said that Mr. Adeosun formerly took over as Chairman of MOMAN on September 1, 2021.

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