MEMAN calls for predictable pricing, transparency at Refining Summit

The Major Energies Marketers Association of Nigeria (MEMAN) has called for greater predictability in petroleum product pricing and transparency as Nigeria’s refining capacity expands.

The MEMAN Chairman, Huub Stokman, made this known while speaking on a panel at the Nigeria Oil Refining Summit (NORS) 2026 in Lagos.

Speaking, Stokman noted that refiners and marketers need greater certainty around the availability, pricing and quality of petroleum products to build a competitive domestic market.

He explained that the expansion of domestic refining would change the relationship between refiners and marketers, making reliable supply and clear pricing increasingly important for businesses operating across the downstream value chain.

For refiners, he said, there must be confidence that products coming out of their plants can be absorbed by the market, while marketers need assurance that agreed volumes will be available when required.

He also identified product quality as an important part of the emerging market, saying locally refined products must consistently meet the specifications expected by consumers and commercial buyers.

On pricing, Stokman said greater predictability would help both refiners and marketers make investment and supply decisions, particularly as locally produced products compete with alternative sources of supply.

He also called for better transparency around petroleum market data, including information on production, available stocks, imports and demand.

According to him, reliable market information would help businesses understand the size of the market and plan their supply and distribution activities more effectively.

He said the development of Nigeria’s refining industry should ultimately create a market where locally produced petroleum products can compete on price, quality and reliability.

Stokman also linked the issue to Nigeria’s ambition to supply petroleum products to markets beyond its borders, saying competitiveness would become increasingly important if Nigerian refineries are to serve regional markets.

For such a market to develop, he said participants across the value chain would need greater clarity on how much product is available, where it is coming from, what it costs and where demand exists.

At NORS 2026, discussions have largely centred on crude supply, refining capacity, infrastructure and financing. Stokman’s intervention puts the focus further down the value chain, on the commercial conditions needed for refiners and marketers to operate within the expanding domestic market.