Moniepoint is transforming how petrol stations across the country manage payments, access credit, and track inventory through innovative financial solutions.
In its latest case study titled, “Fueling the Nation: How Moniepoint Powers Nigeria’s Oil and Gas Industry”, the banking and payments platform reaffirmed its commitment to providing digital payment solutions and business management tools to improve operational efficiency in Nigeria’s downstream sector.
The study examined how petrol stations play a crucial role as vital distribution points for fuel in Nigeria, especially in areas with limited access to alternative energy sources.
According to the study, over 90 per cent of passenger and freight movement in Nigeria is by road, literally fueled by petrol stations that facilitate an average of 41 to 47 million litres of petrol every day.
Moniepoint has bridged this gap by introducing same-day settlements, ensuring that station owners can access their funds instantly to pay suppliers and keep pumps running, it said.
The report further reveals that 90.9% of petrol stations now utilize POS terminals as standard infrastructure, with digital channels accounting for 43% of all fuel payments nationwide.
The Moniepoint case study on Nigeria’s downstream oil and gas sector provides very insightful commentary on critical aspects of running a petrol station, including payment systems, inventory management, and funding challenges.
Speaking on the report and its relevance to the nation’s energy segment,the Managing Director, Moniepoint Microfinance Bank, Babatunde Olofin, noted that the study seeks to deepen policy engagement, provide actionable intelligence on critical success factors needed for the nation’s socio-economic growth across different verticals.
He noted:”We are pleased to release this comprehensive report on Nigeria’s downstream sector. Moniepoint’s reason for being is to create financial happiness and power dreams. Reports like this move us in that direction, enabling us to support critical infrastructure that keeps the nation moving.
“Looking at the relevance, with data on their business transactions and our business management tools, petrol stations can effectively plan their inventory and availability, knowing exactly when to stock up and ensuring operations run smoothly to serve more customers.
“By providing fuel retailers with the financial tools they need, Moniepoint is creating a future where access to reliable fuel distribution is improved and represents more than a fundamental right for all in an equitable and efficient system.”