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Stakeholders seek deregulation of petroleum industry | The Guardian Nigeria News - Nigeria and World News

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Stakeholders in the transport sector have proffered solutions to effects of fuel subsidy removal. They said government must provide infrastructure, such as power, and a multi-modal transportation system.

They also sought deregulation of the petroleum industry, asking government to work with genuine operators of modular refineries and discourage monopoly of the sector by Dangote refinery.

Professor of Transport and Logistics, Lagos State University , Samuel Odewumi, said there must be rehabilitation of distribution infrastructure, security, logistics and supply chain of petrol Deputy Vice Chancellor, Nigeria Maritime University, Okerenkoko, Prof. Innocent Ogwude, said there are concerns about non-existence of fuel subsidy on freight cost, insurance, customs and other administrative costs, which determine landing cost in the country.

Ogwude said, to address this issue, government should discourage monopoly by Dangote refinery, because increase in price would be devastating.

 

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