Marketers aim to eliminate petrol subsidies and lament the slow implementation of the PIA. He called for large-scale government investment in these areas.
MOMAN chairman Olumide Adeosun made the announcement at the Nigerian Association of Energy Correspondents (NAEC) Strategic International Conference just held in Lagos.
Adeosun spoke on the following topics.
MOMAN Chief Executive Officer Mr. Clement Isong, his Mr. Adeosun, said it is still very difficult to dissuade Nigerians from cheap his PMS, also known as petrol said.
He said:
“It is said that this year’s federal subsidy bill could be between N5 trillion and N6 trillion. Nigeria clearly cannot afford it.
“Abolished subsidies and oil prices started to show their true value. We need to ease the pain Nigerians feel at times.” Passing the Petroleum Industry Act (PIA) 2021 was an excellent piece of legislation going in the right direction.
“We’re now in the implementation stage, and it’s taking a little longer than expected, but that’s not necessarily a bad thing.
“The president has postponed the introduction of free market pricing,” said Adeosun,
Adeosun said he believes marketers are clearly ahead of the gas decade declared by the federal government in January 2021.
However, he said rising gas prices around the world and the lack of availability of the product made the launch somewhat difficult.
Adeosun said:
Marketers aim to eliminate petrol subsidies and lament the slow implementation of the PIA. He called for large-scale government investment in these areas.
MOMAN chairman Olumide Adeosun made the announcement at the Nigerian Association of Energy Correspondents (NAEC) Strategic International Conference just held in Lagos.
Adeosun spoke on the following topics.
MOMAN Chief Executive Officer Mr. Clement Isong, his Mr. Adeosun, said it is still very difficult to dissuade Nigerians from cheap his PMS, also known as petrol said.
He said:
“It is said that this year’s federal subsidy bill could be between N5 trillion and N6 trillion. Nigeria clearly cannot afford it.
“Abolish subsidies and oil prices start to show their true value. We need to ease the pain Nigerians feel at times.” Passing the Petroleum Industry Act 2021 (PIA) was an excellent piece of legislation going in the right direction.
“We’re now in the implementation stage, and it’s taking a little longer than expected, but that’s not necessarily a bad thing.
“The president has postponed the introduction of free market pricing,” said Adeosun,
Adeosun said he believes marketers are clearly ahead of the gas decade declared by the federal government in January 2021.
However, he said rising gas prices around the world and the lack of availability of the product made the launch somewhat difficult.
Adeosun said:
