The Major Energy Marketers Association of Nigeria (MEMAN) has emphasized that transitioning to a competitive, deregulated market is crucial for efficiency, transparency, and long-term economic growth.
Speaking at its Q1 2025 press training and engagement in Lagos, MEMAN Chief Executive Clement Isong highlighted the need for patience and adaptation as Nigeria shifts away from a state-controlled system. He noted that a well-regulated, market-driven energy sector would attract investment, improve efficiency, and create new business opportunities—especially for SMEs involved in supply chain services, fuel retailing, and logistics.
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Isong reaffirmed that the implementation of the Petroleum Industry Act (PIA) 2021 remains on track and encouraged continued discussions around Nigeria's evolving oil and gas market.
He stressed the role of regulatory agencies, such as the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and the Federal Competition and Consumer Protection Commission (FCCPC), in ensuring market stability and consumer protection.
The shift to deregulation presents significant opportunities for small businesses to participate in the energy value chain, from distribution to innovative service solutions in Nigeria's growing oil and gas sector.
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