Oil Marketers Now Supply 20m Litres of Petrol Daily Without Government Support
By Patience Ikpeme
Key players in Nigeria’s downstream petroleum sector have disclosed that private petroleum products marketers are collectively delivering nearly 20 million litres of petrol daily to the Nigerian market.
This significant volume is being achieved without any financial assistance from the Federal Government, marking a crucial step in the evolution of Nigeria’s energy sector.
This information came to light on Friday during a meeting between the Federal Government and leading downstream petroleum operators. The engagement, held at the Ministry of Finance in Abuja, was meant to assess the impact of recent reforms, particularly the complete removal of petrol subsidies, and its subsequent effects on domestic fuel supply, exchange rate stability, and pump prices.
Speaking on behalf of the delegation, Mr. Abdulkabir Adisa Aliu, Chief Executive Officer of Matrix Energy, described the current operational model as a “significant milestone.” The marketers at the meeting acknowledged the success of the market-driven approach that has emerged since the withdrawal of fuel subsidies.
They noted that this transition has not only reduced the financial burden on the federal treasury but has also stimulated greater participation from the private sector in fuel distribution.
Other prominent members of the delegation included Mr. Yakubu Maishanu, Chairman/CEO of AYM Shafa Ltd, and Alhaji Auwalu Abdullahi Rano, CEO of A.A. Rano. The group collectively acknowledged that the policy direction adopted by the federal government has fostered increased efficiency within the downstream market and attracted new investments.
The marketers committed to maintaining their role in ensuring market stability and expressed their readiness to deepen their involvement in ongoing energy sector reforms. They welcomed what they termed a “supportive policy stance” by the government and called for continued regulatory clarity to boost investor confidence and ensure seamless market operations.
A key topic of discussion was the acceleration of investments in Compressed Natural Gas (CNG) infrastructure. The marketers aligned with the government’s objective of diversifying Nigeria’s energy mix and pledged their support for the national drive towards cleaner, alternative fuels, consistent with global energy transition targets.
Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, who received the delegation, commended the operators for their resilience and leadership in the wake of the subsidy reforms. He acknowledged their contribution to ensuring fuel availability, promoting energy security, and assisting in stabilizing the macroeconomic environment.
Edun stated that the government remains dedicated to providing a stable and predictable policy environment that supports private sector-led growth and inclusive development, in line with President Bola Ahmed Tinubu’s Renewed Hope Agenda.
He added that the partnership between government and the private sector is central to establishing a more resilient and forward-looking energy market capable of meeting the demands of Nigeria’s growing population and dynamic economy.
