Home Breaking News!!! Deregulation: Oil marketers shift focus to N250bn NGEP facility

Deregulation: Oil marketers shift focus to N250bn NGEP facility

…Seek alternatives to petrol, tax waivers

As deregulation of the downstream petroleum sector gathers momentum, oil marketers under the aegis of the Major Oil Marketers Association of Nigeria (MOMAN), have started eyeing the N250 billion National Gas Expansion Programme(NGEP) of the Federal Government.

This is coming on the heels of the Central Bank of Nigeria (CBN) and the Ministry of Petroleum Resources, recently set up N250 billion intervention facility to help stimulate investment in the gas value chain.

Speaking at the Nigerian Compressed Natural Gas Webinar, organised by MOMAN in collaboration with Oil Trading and Logistics (OTL) Africa Downstream and ARS Conference Services with key stakeholders in the oil and gas sector in attendance, MOMAN Chairman, Mr. Tunji Oyebanji, in his presentation, entitled Deepening the Use of LPG, said there should be cheaper and cleaner alternatives to petrol and diesel for  Nigerians in the wake of the deregulation policy.

He hinted that the Association was also supporting the gas initiatives of the Federal Government and the auto gas space to give Nigerians cleaner and greener alternative to power their automobiles, homes and other equipment.

“The idea of deepening the use of gas comes at a very auspicious time as we grapple with increasing petrol prices due to the deregulation of the downstream sector.’’

According to him, NGEP has further engaged stakeholders across the energy value chain to push government’s gas agenda following its recent stakeholders consultative webinar meeting with MOMAN and Depot and Petroleum Products Marketers’ Association of Nigeria (DAPPMAN).

“In essence, NGEP is bringing together all relevant government agencies to ensure that the gas space is business friendly and conducive enough to encourage new investors into the sector.


Please enter your comment!
Please enter your name here

Most Popular

[Mixtape] DJ LAWY – SHAYO ft 2Ways – Nawa4u.com

Here is another collection of hits from the superstar Dj DJ Lawy alongside SHAYO Mixtape ft the shayo master himself (...

[MUSIC] SHONKEY – AIYE | Nawa4u.com

Amazing super talented artist SHONKEY is here again with a brand new hit single titled "AIYE"... dnt sleep on it cop yours...

FG inaugurates committee on COVID-19 herbal cure

By Emmanuel Elebeke The Federal government on Monday inaugurated a Ministerial Committee on Covid-19 herbal remedies and natural compounds in a bid...

BREAKING: AMP annuls controversial election that produced two presidents in one day, sets up Interim Caretaker Committee

By Benjamin Njoku The Board of Trustees, BoT of the Association of Movie Producers, AMP, has just annulled the controversial general elections...

Davido set to feature in Hollywood movie, ‘Coming To America’

David Adeleke, DMW boss, popularly known as Davido is set to appear in the forthcoming comedy classic, Coming To America 2.

DJ LAWY – Fire on the Mix Vol 4

Droping it like its hot always, amazing Africa Drum Master "DJ-Lawy" is here again with another fire.. Download and enjoy...

Three Crowns commences ‘Family Dance Off’ campaign

Three Crowns has announced its care for mothers in Nigeria with a new...

BREAKING: $9bn Judgment: London Court orders P&ID to pay Nigeria £1.5m as cost of appeal

A London Court on Thursday ordered the Process and Industrial Developments (P&ID) to...