shippingposition
  • Home
  • News
  • Editorial
    • Vox Pop
  • Maritime safety
  • Oil and Gas
  • Personality
  • Health
No Result
View All Result
shippingposition

Home » Our Members Not Responsible For Distortion Of LPG Market – MOMAN

Our Members Not Responsible For Distortion Of LPG Market – MOMAN

by Joshua
October 4, 2021
in Oil and Gas

The Major Oil Marketers Association of Nigeria (MOMAN) says its members are not responsible for activities distorting the Liquefied Petroleum Gas ( LPG) market and attendant increase in the price of cooking gas across the country.

CLEMENT ISONG ( MOMAN)

Mr Clement Isong, Chief Executive Officer, MOMAN, made this known in a statement issued in Lagos.

Isong said it was untrue that some marketers who are MOMAN members had formed a cartel which engaged in rejecting LPG supply from the Nigeria LNG Limited in their depots.

He said: “MOMAN wishes to state categorically that we are not a cartel, nor do we engage in manipulating prices of any petroleum product.

“MOMAN strictly adheres to local and international regulations, laws, and best practices to ensure that it is not complicit nor create an impression that it engages in anti-competitive practices such as price fixing and price gouging.”

According to him, in the the case of LPG, the market is dominated by local independent marketers.

Isong said the collective market share of MOMAN members either in terms of LPG storage or volume throughput was less than five per cent of the Nigerian market.

He said that it was therefore untrue to suggest that MOMAN membership could in any way influence the supply or price of the product.

“Finally, storage facilities for white products have different specifications and safety requirements different from storage facilities and assets for LPG and cannot be interchanged.

Read Also:  Stakeholders Lament 63 Years Of ‘Reckless Oil Exploration, Pollution In Niger Delta

“It is therefore wrong to suggest operationally that a marketer would prefer one to the other.

”A lot of investment in LPG infrastructure still needs to be made, hence government’s policy on the gas infrastructure fund,” Isong said.

He commiserated with the Nigerian consumers struggling with the high costs of LPG caused by global supply challenges, high international prices, limited availability of foreign exchange and high exchange rates.

Isong said MOMAN would continue to support government policies that encourage investments in the supply chain which will eventually optimise logistics costs and reduce prices.

shippingposition

Kindly like us on Facebook


Tags: Distortion Of LPG MarketMajor Oil Marketers Association of Nigeria

Related Posts

Nigeria’s Daily Crude Oil Production Drops To 937,766 bpd In September

Nigeria’s Crude Oil Export Revenue Drops by 17% to $6.68 Billion in First Two Months of 2025

June 1, 2025
President Tinubu Signs 6 IMO Instruments Of Accession

FG Rallies Stakeholders to Accelerate Nigeria’s Gas Revolution, Signs Agreement with Ten Equity Partners

June 1, 2025
The Return of Standards Organisation of Nigeria to the ports

SON Raises Concern Over Influx Of Adulterated Lubricants, Engine Oil

June 1, 2025
Tensions Rise as Bayelsa Host Communities Threaten Shutdown Over Security Contracts

Tensions Rise as Bayelsa Host Communities Threaten Shutdown Over Security Contracts

June 1, 2025

Discussion about this post

Latest News

NPA Bags NASS PAC Transparency Award

NPA Bags NASS PAC Transparency Award

July 12, 2025

Nigeria Customs Says Claim Of Form ‘M’ Migration Charges False

CRFFN Showcases Reform Milestones, Dismisses Court Ruling Misinterpretation

NCMDLCA Faction Distances Self from Amiwero’s Court Action, Backs CRFFN on POF Collection

Customs Intercepts ₦9.2bn Worth of Fake Bedroom Booster, Others

Customs, NAFDAC Inaugurate Implementation Committee for 2024 MoU

Nigeria Customs Intercepts Container with Over 10,000 Donkey Genitals

Senate Hails Adeniyi’s Election as WCO Council Chair, Says It’s  a Major Win for Nigeria’s Global Trade Leadership

Oyetola Launches Door-to-Door’ Diplomacy for Nigeria’s IMO Council Bid

FG Urged To Link Warri-Itakpe Rail To Inland Ports, Road Networks

Red Sea Operation Rescues 4 More From Cargo Ship Sunk By Houthis

Shippers’ Council Set to Establish Border Information Centre at Idiroko, Bolster Trade Efficiency

kindly like our Facebook page

Health

Contraceptive Pills Can’t Cause Cervical Cancer – Expert
Health

Contraceptive Pills Can’t Cause Cervical Cancer – Expert

June 30, 2025

Mrs Roseline Akinlabi, Adolescent and Youth Sexual Reproductive Health Desk Officer, Osun Primary Healthcare Board, says contraceptive pills cannot cause...

ONIONS: The Good Old Healing Vegetable

KNOW YOUR BODY PARTS: The Liver

June 16, 2025
ONIONS: The Good Old Healing Vegetable

ONIONS: The Good Old Healing Vegetable

June 16, 2025
Why Prostate Disorder Cases Are Increasing Among Nigerian Men – Experts

Why Prostate Disorder Cases Are Increasing Among Nigerian Men – Experts

June 1, 2025
20m Nigerians Live With Mental Health Issues, Says WHO

20m Nigerians Live With Mental Health Issues, Says WHO

June 1, 2025
Health Facts You Didn’t Know

How Your Habit Affects Fertility

May 19, 2025
Fruits For Raining Season

Fruits For Raining Season

May 19, 2025
See Mental Illness Like Other Treatable Diseases – Says Suicide Survivor

Health Facts You Didn’t Know

May 19, 2025
Alligator Pepper: Benefits, FAQ, Side Effects, & Warning

Alligator Pepper: Benefits, FAQ, Side Effects, & Warning

April 28, 2025
Water And Health: The Relationship That Helps Life

Water And Health: The Relationship That Helps Life

April 28, 2025

© 2021 Shippingposition

Navigate Site

  • Home
  • About Us
  • Contact us
  • Privacy Policy
  • Sitemap
  • Terms

Follow Us

No Result
View All Result
  • News
  • Coast To Coast
  • Oil and Gas
  • Maritime Education
  • The Terminals
  • Maritime safety

© 2021 Shippingposition