CALABAR, Nigeria — The Chairman of the Board of Trustees of the Association of Distributors and Transporters of Petroleum Products (ADITOP), Dr. Nya Asuquo, has pledged to leverage the organization’s resources to lower petrol pump prices before the end of the year.
Speaking with journalists in Calabar following the inauguration of ADITOP’s Cross River State branch, Dr. Asuquo emphasized the association’s commitment to providing an alternative approach to distributing and transporting petroleum products across the country.
Strategic Intervention
Dr. Asuquo outlined plans to streamline the petroleum distribution network, focusing on reducing landing costs at retail outlets nationwide. These efforts aim to address inefficiencies in the downstream oil sector while easing the financial burden on Nigerian consumers.
He criticized the monopolistic tendencies of some unions within the oil industry, citing frequent strike actions that, in his view, have yielded little benefit for citizens. “We are committed to providing an alternative with more human-driven approaches that will cut down the exorbitant charges in the downstream sector’s distribution value chain,” he said.
Support for Petroleum Industry Act
Dr. Asuquo lauded President Bola Tinubu’s administration for its implementation of the Petroleum Industry Act (PIA), pledging ADITOP’s full support for the act’s successful execution. “We stand with the government’s vision for reforming the oil and gas sector and are committed to being a positive force in driving these changes,” he noted.
Founded in 2012, ADITOP was established to mitigate the impact of strikes on the Nigerian populace while enhancing operational efficiency in the oil sector.
Collaboration, Not Competition
Dr. Asuquo dismissed rumors that ADITOP seeks to undermine existing unions in the oil industry, describing such claims as “unfounded and unreasonable.”
“The oil industry is vast, with ample space for diverse players. We are collaborators, not competitors, in the quest for a better Nigerian economy,” he affirmed.
ADITOP’s Cross River State Chairman, Mr. Ekpenyong Ayi, reinforced the association’s commitment to partnering with other stakeholders to achieve shared goals, including making petroleum products more affordable for the masses.
With a vision to inject innovation and reduce costs in Nigeria’s oil sector, ADITOP’s initiatives may offer some relief to citizens facing high fuel prices amidst broader economic challenges.
