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LequteMan
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Nigeria - According to Major Oil Marketers Association deregulation of the downstream sector of the oil and gas industry remained the best option to move the economy forward, Vanguard reports.
According to the Executive Secretary of MOMAN, Mr Obafemi Olawore, deregulation would bring in investments into the sector, and would encourage the establishment of private refineries in the country.
He said FG should take up courage, fully deregulate the sector and remove subsidy or embark on continuous subsidy regime payment as at when due. "If fully deregulated with rules, you will have the serious investors coming in to invest adequately,” Olawore said.
“The government must also show that in the areas where there have deregulation, people are gaining and that whatever comes in as funds will be used for the benefit of the people. People should know that the subsidy refund is not dash money. It is what you have paid for and somebody is paying you back because you have been told to sell below the market price. We were hoping that we will be paid back on time but the refund is delayed infinitely. Banks are on us demanding for their money and interest,” he said.
#Nigeria #Deregulation #MOMAN
According to the Executive Secretary of MOMAN, Mr Obafemi Olawore, deregulation would bring in investments into the sector, and would encourage the establishment of private refineries in the country.
He said FG should take up courage, fully deregulate the sector and remove subsidy or embark on continuous subsidy regime payment as at when due. "If fully deregulated with rules, you will have the serious investors coming in to invest adequately,” Olawore said.
“The government must also show that in the areas where there have deregulation, people are gaining and that whatever comes in as funds will be used for the benefit of the people. People should know that the subsidy refund is not dash money. It is what you have paid for and somebody is paying you back because you have been told to sell below the market price. We were hoping that we will be paid back on time but the refund is delayed infinitely. Banks are on us demanding for their money and interest,” he said.
#Nigeria #Deregulation #MOMAN
