Subsidy Removal: Oil and Gas Stakeholders call for proper consultation

Some stakeholders in the oil and gas industry have called for effective consultation with Nigerians on the proposed removal of fuel subsidy to ensure successful implementation by the in-coming government.

They made the call at a roundtable in Lagos on the impact of deregulation on the downstream petroleum sector.

Participants analysed various perceptions and perspectives on the benefits and expectations of total removal of subsidy on PMS also known as petrol

In a remark, a former Chairman, House Committee on Petroleum Downstream, Dr. Joseph Akinlaja emphasised the need for government to first of all gain the trust of the people before embarking on the policy.

Dr. Akinlaja, however, said the fears and anxiety about the policy could be doused through genuine palliative measures to cushion its effects on the citizens

Contributing, a former President, Trade Union Congress, Comrade Peter Esele, called for programmes that would reduce the tax burden on worker’s salaries and then make transport services cheaper.

In a welcome address, a former Commissioner for Transportation in Lagos, Mr. Kayode Opeifa explained that the event was aimed at providing insight into subsidy removal, so as for Nigerians to get a clearer and better understanding of the issue for informed decision.

The President, Independent Petroleum Marketers Association Of Nigeria, Comrade Mike Osatuyi appealed for commitment and patriotism on the part of government on rehabilitation of the nation’s refineries.

A lecturer from Transport and Logistics from Lagos State University, Professor Samuel Odewumi, stressed the need for continued consultation with the media and other stakeholders on the issue..

There were presentations from some agencies such as the Federal Competition and Consumer Protection Commission, Nigerian Midstream and Downstream Petroleum Regulatory Authority, Lagos Chamber of Commerce and Industry as well as and trade Unions.

Olusegun Haastrup

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