The Senior Special Assistant to President Muhammadu Buhari on Niger Delta Affairs, Sen. Ita Enang has assured Nigerians that the presidency has taken drastic steps to crash the prices of petroleum products.

To do so, the Federal government, according to Enang, has concluded plans to host a National Conference on Artisanal and Modular Refining to integrate local refiners into the mainstream refining in Nigeria.

Speaking at the Correspondents’ Arena in Uyo at the weekend, Sen Ita Enang said the Federal Government has agreed to partner with those in the creeks on how to legalise their businesses towards refining with incountry capacities.

Slated for March 15-17, the National Conference, Enang explained, is in response to the amnesty extended to the Federal Government by the former illegal refiners.

“We need to agree with those in the creeks on how to legalise their business because of the danger the current practice is posing to the environment and the economy of the country.

“Therefore the Federal Government will March 15th-17th hold a National Conference on Artisanal and Modular Refining to integrate local refiners into the mainstream refining in Nigeria.

“It is more necessary to do in country refining to avoid certain duties and charges connected with importation of petroleum products. with this step, it would be possible to have the products sold at less than N100 per liter, because other charges relating to clearing the cargo would have been dropped,” he said.

Godarz:
So in other words, instead of deregulating and allowing more legitimate investors who would build standard refineries to provide enough PMS, we want to legalize backyard refineries, which are not up to standard and provide a lot of pollution simply because we want cheap fuel.

Even then, we still must deregulate. It is the only way we can eventually get low oil prices.

thebosstrevor1:


Do you even understand the meaning of deregulation

How can deregulation work if Government can not encourage illegal refineries in the creeks to get legalise.

Dont you know their is more cheaper than the legalise one

thebosstrevor1:


Do you even understand the meaning of deregulation.

How can deregulation work if Government can not encourage illegal refineries in the creeks to get legalise.

Dont you know their is more cheaper than the legalise one

Godarz:
.

Yes...government stops setting the price of PMS, and starts allowing makreters, refiners, etc to set the price...just as it allowed them to do for kerosene, diesel, etc...



Well, if you want to attract more people into refinery business, you have to assure them they can make a profit doing so...legal or illegal. Government setting prices for fuel, and paying a subsidy to cover the losses resulting from price setting/fixing tends to discourage potential refienrs, unless you are Danogte or BUA (AND BUA is refining everyhting except PMS...)

thebosstrevor1:


The government deregulation proposal is a partial one.

But i hope you know that if the marketers have control over pricing, they will gang up and form a cartel that will negatively impact the consumers.

The reality is that you can't remove subsidy from the Nigerian market btw who benefits from the subsidies if not the marketers themselves

damichibuzor:
Lies

thebosstrevor1:
This is a good and nice initiative by the federal government.

Illegal refineries needs to be encouraged to be legalised. It will help small refineries that are locally owned to participate in the economy instead of the black market.

Deregulation can only work when we eliminate illegal refineries that destroys the environment.

From another angle.

The only problem i have is that most of this illegal refineries steal crude oil from Government pipelines, they refine them and sell for cheap to locals. will they love to be legalise?

dre11:


https://www.newtelegraphng.com/fuel-pump-price-may-drop-to-n100-presidential-aide/

Godarz:
So in other words, instead of deregulating and allowing more legitimate investors who would build standard refineries to provide enough PMS, we want to legalize backyard refineries, which are not up to standard and provide a lot of pollution simply because we want cheap fuel.

Even then, we still must deregulate. It is the only way we can eventually get low oil prices.

dre11:


https://www.newtelegraphng.com/fuel-pump-price-may-drop-to-n100-presidential-aide/