Major Marketers Association of Nigeria, MOMAN, has urged the government to create a favourable framework for the implementation of renewable energy projects, as well as encourage research in clean energy technology.

The Chairman MOMAN, Mr. Olumide Adeosun, who stated this in a media parley in Lagos, also urged government to provide incentives to operators in the sector.

He said, “This newfound commitment to alternative fuels is not only driven by environmental concerns but also by the economic and social benefits associated with a transition to a sustainable energy future.

“By embracing alternative fuels and renewables, governments are not only leading the way towards a greener and more resilient future but also fostering innovation, job creation, and energy security for our country.”

He also applauded the deregulation of the petroleum downstream sector and the unification of foreign exchange rates.

Adeosun, who is also the Chief Executive Officer of Ardova Energy, acknowledged that the issues of foreign exchange and fuel subsidy have been addressed.

He however stressed that other challenges still need the attention of the government.

He highlighted the importance of productivity in the country’s development and called on the government to address issues such as insecurity, increased productivity in the oil and gas sector, and the rising cost of food and transportation.

Adeosun also explained that MOMAN has the capacity to import petrol into the country. He added that the challenge to importation will be the balanced wind-down of NNPCL imports as the private sector takes the burden while waiting for the onboarding of local refineries.