‘Full deregulation solution to petroleum sector woes’
Simeon Ebulu
OIL and gas sector operators have heightened their agitation for the full deregulation of the downstream segment of the petroleum value chain, saying doing so will accelerate investments and ensure product sustainability
The stakeholders’ agitation is a fallout of the recent increase in petroleum pump price of about five per cent from N160/litre to N168/litre in the retail prices of premium motor spirit (PMS), insisting that deregulation remained the “most appropriate and sustainable” direction available to the nation as global price of crude oil continues to reel under the pressure of the global coronavirus pandemic.
Still on the deregulation“Deregulation would reposition the sector and free the government to focus on its traditional role of creating an enabling environment for the growth of the sector.”
Industry watchers say there is an urgent need for marketers to participate in the supply of PMS in order to promote efficiency, sufficiency and greater value for consumers.
