adminMEMAN hosted an insightful webinar themed “Fuel Pricing,” aimed at deepening understanding, clarifying misconceptions, and reaffirming its commitment to transparency.
The first session featured Mr. James Gooder, VP of Crude Oil at Argus Media, who delivered a presentation on “Market Trends, Transparency, and Fair Pricing.” He underscored the critical role of logistics and pricing parameters in PMS cost determination, highlighting the potential for infrastructure upgrades—such as deeper jetties and larger vessels—to lower logistics expenses. He also examined the impact of exchange rates and crude oil prices on PMS landed costs, emphasizing MEMAN’s adoption of average pricing models to stabilize the market amid volatility.
In the second session, Mrs. Ogechi Nkwoji, MEMAN’s Head Economic Intelligence, Research, and Regulation, presented on behalf of the CEO. She examined the key factors affecting the cost of delivering petroleum products across Nigeria, providing an in-depth analysis of the elements shaping pricing. She also highlighted MEMAN’s efforts to foster market stability and boost consumer confidence.
As part of the session, it was shared that, from Week 38 to Week 47 of 2024, MEMAN members have so far loaded over 251,797,142 litres of PMS from the Dangote Refinery, with loading operations still ongoing. This includes 148,463,142 litres loaded by trucks at the gantry and 103,334,000 litres delivered to the Apapa depots via vessels.
Moderated by Mrs. Vanessa Durojaiye, MEMAN’s Industry Analyst, the webinar fostered informed discussions and underscored MEMAN’s dedication to transparency in the energy sector.
