In a recent webinar titled “Optimizing the Nigerian Oil and Gas Industry,” Huub Stokman, Chairman of the Major Energies Marketers Association of Nigeria (MEMAN), emphasized the urgent need for collaboration among stakeholders in the oil and gas sector to improve service quality and affordability for Nigerian customers.
Speaking on Monday during the MEMAN webinar organized by the Association’s Competence Centre Series, Stokman outlined both the challenges and opportunities facing Nigeria’s energy sector. He underscored the necessity of a unified approach involving businesses, government entities, and regulatory bodies to ensure that customers receive quality products and services at reasonable prices.
Stokman, who is also the CEO of NNPC Retail, highlighted the importance of a customer-centric approach to address key issues such as energy security, efficient distribution, and competitive market practices. “We’ve got the stakeholders, and I’m always very clear, I’ve come from a long line of experience. But at the end, we do this for our customers. We don’t do this for ourselves,” Stokman said. “We need to realize our sole responsibility is to deliver goods and services effectively.”
Key points discussed included the need for improved infrastructure, particularly roads and pipelines, to enhance product distribution across Nigeria. Stokman identified ongoing issues such as product hoarding, regulatory fragmentation, and high operating costs due to inflation and inadequate logistics as significant barriers to industry efficiency.
He also emphasized the critical role of technology and automation in streamlining operations, advocating for increased investment in these areas to create a more efficient energy supply chain. Stokman praised Nigeria’s recent progress in expanding refining capacity, noting that it strengthens energy security and reduces the country’s dependence on imported fuels.
Addressing energy transition and environmental sustainability, Stokman highlighted Nigeria’s commitment to achieving carbon neutrality by 2060 while tackling energy poverty. He pointed to the potential of Compressed Natural Gas (CNG) and Liquefied Natural Gas (LNG) as viable alternatives to traditional fuels and stressed the importance of expanding renewable energy solutions such as solar power and electric vehicle (EV) charging infrastructure.
Looking ahead, Stokman proposed the creation of consultative committees similar to Nigeria’s Bankers Committee. These committees would aim to foster collaboration, innovation, and conflict resolution within the petroleum sector. He suggested that such committees could provide strategic oversight and promote a unified approach to industry challenges, potentially enhancing regulatory compliance and operational efficiency.
In conclusion, Stokman called on industry stakeholders to work together, leveraging successful approaches from other sectors, to navigate the ongoing energy transition and achieve optimal outcomes for Nigerian consumers. His remarks underscored the importance of collective effort in addressing the complex issues facing Nigeria’s oil and gas industry.
