Lagos, Nigeria – The Major Energies Marketers Association of Nigeria (MEMAN) said downstream operators face huge pressure from the global oil crisis despite producer gains.
West Africa’s petroleum sector shows resilience amid Middle East tensions. A webinar with S&P Global Energy highlighted supply risks and Nigeria’s deregulation shift.
MEMAN Chairman Huub Stokman called it a “double-edged reality.” Volatility spikes shipping, insurance, and sourcing costs as nations seek alternatives. Nigeria could rise as energy partner if it fixes pipelines, rules, and infrastructure.
Okay News reports Stokman’s view. He said, “While it creates opportunities for producers, it exerts immense pressure on downstream operators and, ultimately, consumers.” Stokman praised Dangote Refinery as a buffer but noted price ties to global trends.
Nigeria holds over 30 days of petrol stock, with NNPC Ltd. as last-resort supplier. S&P’s Gary Clark sees tight refined markets for diesel and jet fuel. Cape detours inflate European freight.
Stanislas Drochon stressed Sub-Saharan Africa’s import reliance and weak refining. Energy security needs full value chain investment. Iranian output cuts and Strait of Hormuz threats unsettle chains.
Marketers report slumping demand from high prices. Truckloads cost more with low returns amid loan rates. Buyers cut volumes from 20,000 to 2,000 litres.
Nigeria weighs deregulation benefits against shocks. Reforms promise stability if bottlenecks clear. Consumers bear rising pump costs.
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