PRESS STATEMENT
The management and Staff of Marktot Oil & Gas Ltd, in the past few weeks, has been inundated with calls seeking clarification as to whether it is part of a purported hoarding and hike of petrol products in Kabba.
Marktot Oil & Gas Ltd wishes to inform the general public, and stakeholders that it has not and does not intend to hoard/hike now or in the nearest future, barring any material, unforeseen circumstances.
As a matter of fact, which can be verified, the MD/CEO Dr. Raphael Arokoyo is not the Chairman or Secretary of Independence Petroleum Marketers Association of Nigeria, Kabba branch (IPMAN) or any other Petroleum Marketers associations and hence cannot be true that he dictates prices and availability of the products.
In addition, while the petroleum industry in Nigeria is regulated by the FG through NMDPRA, it is essentially a free market.
Dr. Raphael Arokoyo is a visionary businessman and entrepreneur, whose main purpose is to create capacities and enterprises that will improve and imparts the wellbeing of the community in Kabba and its environs; This we have been doing over the years through our various business units including Marktot LPG, RAF Foundation, A F RAF Cement and our various Filling Stations Across the major towns and cities in Kogi State.
Marktot Oil & Gas has a business philosophy of creating shared value. We will not buy when the prices are not competitive. In addition, we will rather trade or sell what will create value between us and the community.
In short, we buy and Sell but won’t buy what is not sustainable to our stakeholders including our customers, the community and business partners.
We understand that there is a general supply and demand imbalance created by Foreign Exchange Hike, Inflation, Dilapidated Road Network and the recent flooding across the country. we as a responsible citizen are doing our very best to make the product available as much as we can and we do not belief in hoarding the product to create unnecessary hike in price.
Marktot Oil & Gas Ltd, therefore wishes to restate that it is not a part of the purported hoarding/hiking of petroleum products and we once again enjoin and appeal to our Customers and well-wishers to understand and bear with us, as we do everything under our control to restore regular supply of the products to our stations.
In addition, we would continue to deliver quality and excellent services to all our esteemed customers.
Thank you.
Signed:
Management
