The Major Energies Marketers Association of Nigeria (MEMAN) has advised motorists against panic buying of petrol, assuring Nigerians of sufficient stock.

The MEMAN Chief Executive Officer, Clement Isong, gave the advice in a statement on Thursday, October 31, 2024, over perceived shortages in the petroleum supply market.

Isong stated: “MEMAN assures the public and all stakeholders that we have significant stocks of products in our tanks and access to supplies from our partners, including Dangote Refinery and NNPC Trading Limited.

“We also have a clear outlook on future supplies of all petroleum products.”

He noted that the diversification of supply and market deregulation enabled marketers to plan and secure their supply needs in advance, minimising the risk of outages.

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According to him, MEMAN does not foresee any disruptions in the availability of petroleum products either in the immediate future or near term.

Isong reiterated the importance of avoiding panic buying, noting that supply efficiency was improving, and logistics operations were being optimised.

He assured that MEMAN members were committed to optimising their supply chains to ensure the highest levels of availability, accessibility, and affordability for consumers in an increasingly competitive environment.

The Star