A group of marketers under the aegis of Major Oil Marketers Association of Nigeria (MOMAN) have backed the recent cut in oil price directed by the Federal Government as approved by President Muhammadu Buhari.
A statement issued by the Chairman, Mr Tunji Oyebanji, stated that although no communication had been made to the group officially on the pump price reduction, however, he declared that the group is in support of whatever policy government comes with to bring succour to Nigerian people at this very hard and trying period of the country.
He said, “We (MOMAN) will do whatever in our power to make any policy government comes up with to work. We are assured that in implementing this policy, government will have the best interest of industry at heart as we look forward to getting other details.”
However, being unsure if it was just a reduction or complete deregulation, he noted that it was too early to make conclusions but hoped that in the process marketers’ margin will be improved within the industry so as to attract more investment in the business.
He said, “If our facilities and operations are safe, it will make delivery more efficient. We hope all these will be included in the package.”