Oil marketers have fulfilled their commitment to provide palliatives in the form of approximately 100 Compressed Natural Gas (CNG) mass transit buses following the removal of fuel subsidies. Clement Isong, the Executive Secretary of the Major Oil Marketers Association of Nigeria, confirmed this development during a media parley at the recently concluded 17th edition of the 2023 Expo of the Oil Trading Logistics Africa Downstream Energy Week in Lagos....CONTINUE READING
Isong mentioned that the pledged buses were procured from Innoson Motors and have already been delivered. While emphasizing that the Major Oil Marketers Association of Nigeria (MOMAN) was not directly involved in the bus acquisition, he clarified that those responsible for the initiative ordered the buses from Innoson Motors and are awaiting an opportune time for the official launch.
The Depot and Petroleum Marketers Association of Nigeria had advocated for increased gas investments as an alternative to petrol use shortly after the subsidy removal in June. As part of their commitment, the association pledged to donate between 50 and 100 CNG-powered buses to ease the impact on the masses.
During a meeting with President Tinubu in Abuja, Winifred Akpani, the Chairman of DAPPMAN and Managing Director of Northwest Petroleum and Gas Company Limited, emphasized the proactive approach of oil marketers in mitigating the effects of petrol subsidy removal. She highlighted the need for alternative energy sources, particularly leveraging the country’s abundant natural gas resources.
Akpani mentioned the lack of fresh investment in the gas sector and emphasized the importance of creating an investor-friendly environment. She expressed optimism that by July, initiatives would be in place to facilitate a seamless transition and enable people to adapt to the new energy landscape.
