The Major Energy Marketers Association of Nigeria (MEMAN) has called for full deregulation and liberalisation of the oil and gas industry.
This is coming amid the lingering fuel scarcity and the price adjustment which has shot up petrol to about N900 per litre from the initial N568 or N617 in Lagos.
Daily Trust reports that the full deregulation may see the price of petrol jumping to almost N1,500 as its landing cost is about N1,200.
The marketers also advocated support for local refineries to decrease dependence on imported petroleum products, while at the same time calling for freedom for marketers to purchase crude oil from local and international sources and for refineries to enter into processing agreements with retail companies.
These were some of the recommendations at the end of their virtual conference with the theme: “Optimising the Nigerian Oil and Gas Industry”.
They also proposed the creation of Petroleum Industry Consultative Committees (PICC) to address lingering issues in the industry in the aftermath of the disputes between Dangote, other local refiners and NNPC Limited and other regulators.
