Tanko Mohammed
Coalition of Nigerian Civil Society Organisations for Petroleum and Energy Security (CONCSOPES) has called on the orgainsed labour to support government’s effort to deregulate the downstream oil and gas sector for economic growth and development.
Mr Timothy Ademola, CONCSOPES Convener made the appeal at a news Conference, in Abuja, on Saturday.
He said that there was need for Nigerians to support the deregulation of the oil downstream for its numerous benefits to the sector and the country at large.
“ It will do our nation much good if our respected labour leaders spearheading the resistance to deregulation would recognise that deregulation has largely stabilised petroleum products supply over this past year.
“ Once the foreign exchange issue that has made it difficult for major and independent marketers to engage in importation of petroleum products is resolved, the other gains of deregulation will kick in and Nigerians will be better for it.
“The market stabilisation that has been brought about by the past one year of deregulation is strong assurance that full deregulation is the way to go if Nigerians are to enjoy the full benefits of their hydrocarbon wealth,’’ he said.
According to him, resisting deregulation will only slow down the national progress in that regard.
He said that the Coalition would continue to support deregulation with human face adding that such would bring about the required development in the sector.
Ademola described deregulation with human face as one that works side by side with infrastructure development, boosting production capacity among others.
“We are saying that deregulation is good while boosting our local and national capacity of producing oil, deregulation while cooperating with private sector to also bring expertise to provide petrol to our people.
“That Kind of deregulation for us is deregulation with human face. It is not just deregulation to absorb cost but it will be the one that will scrap absorption of cost,’’ he said
He assured that CONCSOPES would continue to put pressure on government to ensure that full deregulation of the downstream will and gas sector would be beneficial to all.
In his remarks Mr Henry Adigun an Energy expert said that deregulation remained the only way to ensure development in the downstream oil and gas sector in Nigeria.
He said that Petrol was one aspect of deregulation adding that currently Kerosene sells higher in the black market in the past four years in the country.
According to him, 18 million Nigerians still make use of kerosene to cook which is more expensive than petrol.
“The point is that government cannot sustain subsidy on petrol, N2.4 billion weekly on subsidy as at today,’’ he added.
The Minister of State for Petroleum Resources, Chief Timipre Sylva in March 2020 announced full deregulation of the downstream oil and gas sector.
This brought about increase in the pump price of Premium Motor Spirit (PMS) also known as petrol as marketers were allowed to fix the price to sell their product.
Nigerians and Organised labour have continued to express worry over the continued increase in the pump price of petrol saying that it had caused a lot of hardship to the common man.
The National Assembly has assured that it would pass the Petroleum Industry Bill (PIB) which is at the stage of Public hearing before the end of April.
The bill when passed into law would help the full implementation of the deregulation policy.
