Major Marketers Demand Accelerated Downstream Sector Liberalisation 

Yemisi Izuora

The new chairman of the Major Oil Marketers Association of Nigeria, MOMAN, Mr Olumide Adeosun, has called for accelerated implementation of the Petroleum Industry Act, PIA, with regard to liberalization of the downstream sector.

Adeosun, who is the Chief Executive Officer, Ardova Plc, on Thursday assumed leadership of the Association, revealing that the body has made strong recommendations to the PIA implementation committee with regard to how the industry should be made to attract investment and help in sustaining the national economy.

Adeosun, succeeded Mr Tunji Oyebanji, Chief Executive Officer, 11 Plc, who has been piloting the affairs of MOMAN since 2019.

He holds an M.Sc in Mathematics from Royal Holloway College, University of London and graduated from Woodbury University, California with a B.Sc in Architecture.

Before his  appointment as the boss  of Ardova Plc, Adeosun played leading roles in the Energy and Power (West Africa) Practice at PwC.The roles include Head of Strategy Consulting for West Africa and Head of Capital Projects and Infrastructure.

He served as a consultant to British Petroleum (BP) Plc. and  later appointed as the  Vice President, Commercial Development and Operations for BP’s Nigeria Trading business.

Adeosun lauded his predecessor for his vision, support and leadership of  the association.

He said he would continue to treasure the roles played by Oyebanji as well as count on him for requisite inputs in running the affairs of MOMAN

He added: “I feel very privileged for the opportunity to serve as the Chairman of MOMAN in such an exciting time for our industry.As a collective, we are at cusp of new beginnings for the sector and I envisage that as we move towards less price-controlled reality, our journey will make for interesting times.”

Speaking, Oyebanji  recalled that inspite of  the hitches  posed by the COVID-19 pandemic, the association survived same played vital role in national economic development.

According to him,MOMAN donated N250 million to the Nigerian National Petroleum Corporation (NNPC) initiative to nip in the bud COVID -19 pandemic,just as he informed  that the association embarked on self-regulation by ensuring that members complied with best safety practices in their operations

Mr Clement Isong, Executive Secretary and Chief Executive Officer, MOMAN, commended Oyebanji for his sterling contributions to the association,adding that it was under his leadership that the association became for industry best practices.

According to him,Oyebanji’s tenure  spearheaded  MOMAN’s engagements on various issues including the PIB, Petroleum Support Fund outstanding subsidy discourse and margin adjustment with the Petroleum Products Pricing and Regulatory Agency.

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