Fix Refineries Before Deregulation – IPMAN

ipman 1

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.

Check Also

Deborah Samuel: FG urged to stop escalation of jungle justice across Nigeria

The National Legal Adviser of the Accord Party, Maxwell Mgbudem, has called for urgent measures …

2023: US threatens visa restriction on promoters of violence

The United States of America says it will impose visa restrictions on anyone who promotes …

Dollar hits N600 at parallel market, forex supply shrinks

The dollar exchanged at N600 on Monday at the parallel market, heightening fears of a …

Leave a Reply

Your email address will not be published.