‘Amid Industry Challenges,’ Everything Clement Isong said at a Press Engagement on ‘Refining Basics, Gasoline Pricing And Trade Flows In Nigeria.’
The Major Energies Marketers Association of Nigeria (MEMAN) has reaffirmed that, despite ongoing debates and challenges, the implementation of the Petroleum Industry Act (PIA) remains on track.
Platforms Africa reports that MEMAN stressed that these discussions are a normal aspect of the shift toward a deregulated, market-driven energy sector.
The group made this known during its Q1 2025 Press Training & Engagement, held in Lagos on Wednesday, March 26.
The event was themed, “Refinery Basics, Gasoline Pricing & Trade Flows in Nigeria.”
MEMAN’s Chief Executive Officer, Clement Isong, noted that despite existing challenges, moving from a state-controlled petroleum market to a competitive, deregulated system is crucial for ensuring long-term efficiency, transparency, and economic growth.
He mentioned that the transition requires patience, adaptation, and trust.
He said: “As the market stabilises, challenges will arise, and resistance from those accustomed to price control is inevitable.
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“But with robust regulation, industry collaboration, and public transparency, Nigeria can fully realise the benefits of this transformation.
“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 boss affirmed the association’s strong support for regulatory agencies such as the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and the Federal Competition and Consumer Protection Commission (FCCPC) in maintaining a fair, competitive, and well-regulated market.
Petroleum Refining Expert, Mark Williams, discussed the fundamentals of refining crude oil, types of refineries, and key refining processes.
James Gooder, Vice President, Crude Oil at Argus Media, also led discussions on fuel pricing, trade flows, and how global pricing mechanisms influence Nigeria’s downstream market.
Platforms Africa
