MEMAN Chairman Calls for Competition and Transparency to Strengthen Nigeria’s Downstream Sector
At the Nigeria International Energy Summit (NIES), industry stakeholders highlighted persistent challenges in Nigeria’s downstream sector, including regulatory hurdles and operational inefficiencies that have affected both operators and public perception.
Speaking at a panel on the downstream industry, the Chairman of the Major Energies Marketers Association of Nigeria (MEMAN) and Managing Director of NNPC Retail Services stressed that the sector must prioritize consumers to achieve meaningful progress.
“You will not do any downstream business if you don’t take the consumer or customer first; it must be a customer-led business,” he said.
The MEMAN Chairman highlighted the sector’s struggle with public trust, noting that confidence in product quality and service delivery is essential.
“It’s important that there’s trust and you get what you pay for,” he added.
While acknowledging that regaining consumer confidence is an ongoing process, he encouraged industry players to work together to improve standards and reliability.
Data transparency is another critical area. The MEMAN Chairman emphasized the need for real-time reporting of production, loading, and sales, stating that reliable data builds confidence, which drives investment and innovation.
He also stressed the importance of fair competition and strict adherence to regulations, calling on the regulator to act like a referee, ensuring everyone follows the rules.
A healthy downstream sector, he added, is vital for national growth.
“We need to realize that if the downstream industry is not healthy, it doesn’t create value and the country suffers,” he noted.
On energy transition, he highlighted consumers’ evolving preferences, emphasizing that they seek choice, affordability, and good service.
“We need to key into transparency of how we run the industry to create a lot of value,” he said.
He concluded that the sector must focus on resilience, competition, and transparency under clear rules.
“This is not an easy task, but if you are the one that indeed regulates the industry, do it with trust, wisely, fairly, ensuring it’s in the interest of consumers and Nigerians at large,” he said.
Industry players are optimistic about the new regulatory approach and the potential for increased trust and collaboration.
“Let’s share data and create trust with confidence in the industry,” he added.
