As the pump price of petroleum products continue to soar, some stakeholders in the Oil and Gas sector have offered solutions to it.
The stakeholders who spoke in an interview with the Energy correspondent of ABS Abuchi Nwozor in Awka, were of the view that when monopoly is removed in the oil and Gas sector, it will go a long way in ensuring seamless supply of petroleum products and at reduced prices.
According to one of the stakeholders, Chief Jonathan Nzekwe, total deregulation of the downstream sector of the economy, will encourage independent Marketers of petroleum products to source for the product and sell to consumers at competitive prices which he said will crash the pump price of petrol.
Chief Nzekwe regretted the hardships Nigerians are passing through due to scarcity and hike in the pump price of petrol called for the revamping of all the nation’s refineries for optimum performance.
For Chief Boniface Egbutu, Federal Government should issue more licenses to serious investors for the building of modular refineries in Nigeria to check monopoly in the Oil sector.
For a motorist, Mr Israel Okeke, it is regrettable that Nigeria which prides itself as the third largest producer of crude oil in the world can allow her citizens to suffer perennial scarcity of petroleum products and price hike due to what he called poor economic policies of the government and called for strategic measures to check the ugly trend.
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