Governor Udom Emmanuel of Akwa Ibom State has disclosed that three
private refinery operators have indicated interest to start operations
in the state just as he warned marketers against contravening the
miscellaneous code which he said, is punishable by law.
The Governor also advocated for the liberalization of the petroleum
downstream sector to make room for an inter play of market forces which
would regulate the cost of Petroleum products for the consuming public.
He stated this during the monthly prayer meeting at the Latter House
Chapel, Government House, Uyo.
Governor Emmanuel was speaking against the backdrop of artificial
scarcity of premium motor spirit (PMS) created by the marketers who have
closed their stations and in the process deny motorists and the
consuming public, access to the product.
“Petroleum marketers are hoarding fuel on the pretext that the just
concluded National Economic Council would push for the removal of
Petroleum Subsidy. Let me clarify that during our last meeting, even at
the Governor’s Forum, subsidy issues were not deliberated. If at all it
will be removed, it’s not going to be immediately, so there’s no point
hoarding fuel hoping that subsidy will be removed for them to enjoy
super abnormal profits. “
“Let’s not take things to the extreme. Yesterday no station was open
in the state. I am of the view that if subsidy is removed, the interplay
of market forces will bring down the price to where it should be.”
At present, landing cost of crude oil in the current market price is
seventy eight naira, with liberalization anybody can come in, refine and
sell the product. This way, the product will be cheaper, so I want to
see the stations opened.”
No comments:
Post a Comment