- Petroleum marketers assured the public of a steady fuel supply, confirming they have significant stock to meet national demand despite recent queues
- MEMAN emphasized the importance of supply diversification and deregulation, which helps prevent future fuel shortages and ensures accessibility across Nigeria
Petroleum marketers, represented by the Major Energy Marketers Association of Nigeria (MEMAN), have reassured the public of a steady fuel supply nationwide.
On Thursday, MEMAN confirmed that it holds a significant stock of petroleum products to meet national demand despite recent reports of fuel queues.
MEMAN CEO Clement Isong addressed concerns following comments by Aliko Dangote, the president of Dangote Group, about unused fuel stock. Dangote stated that around 500 million liters of fuel are currently in storage but have not yet been lifted by marketers.
He noted that “at full capacity, we can meet the nation’s consumption rate,” which he estimated at about 30-32 million liters daily. Dangote assured that with the available 500 million liters, the nation could sustain its fuel needs for over 12 days without additional production or imports.
MEMAN responded to concerns about possible fuel shortages, urging the public to avoid panic buying. They emphasized having sufficient fuel supplies in their own storage and access to additional stock from partners, including Dangote Refinery and NNPC Trading Limited.
The organization highlighted the benefits of supply diversification and deregulation, which allow marketers to plan, secure, and adjust fuel needs in advance. MEMAN believes this approach prevents future shortages.
MEMAN assured customers that their members are optimizing supply chains to ensure high fuel availability, accessibility, and affordability. As logistics improve and supply chains stabilize, the organization remains committed to meeting fuel demand across Nigeria, supporting an efficient and competitive market.