The Independent Petroleum Marketers Association of Nigeria (IPMAN) has advised the Federal government to deregulate the downstream oil sector so as to attract investors and end fuel scarcity.
Its national vice president, Alhaji Abubakar Maigandi, said the government must rehabilitate its refineries because once government produces locally, it would cut cost from the importation of petrol.
Alhaji Maigandi said before deregulation, the government should repair all refineries that are dilapidated.
Admitting that even if the refineries record full capacity utilization, their products will still be insufficient for consumption, Alhaji Maigandi said it will be a good measure to remove the subsidy.
He said upon the removal of subsidy, the pump price will become attractive to local and foreign investors in modular and large refineries.