The Organised Private Sector, under the umbrella
of Nigeria Employers’ Consultative Association (NECA), on Saturday commended
the Federal Government for the removal of the fuel subsidy.
The Director-General of NECA, Mr Olusegun
Oshinowo made the commendation while fielding questions from newsmen in Lagos.
Oshinowo said that though the government said
that the new dispensation would be predicated on what it called “price
modulation”.
He said that hopefully, the issue of fuel subsidy
and its financing would not surface again in government’s budget.
According to him, it is pertinent for the
government to focus on the policy framework as well as incentives that will
ensure that Nigeria is self-sufficient in the refining capacity to meet her
energy needs.
However, Oshinowo noted that the organised
private sector was expecting a decisive, unambiguous and explicit policy
statement that the subsidy regime had ended.
He said that the government should also ensure
the privatisation of the four refineries and jointly agree on a timeline and
modalities with Investors on the utilisation of the licences already issued for
the setting-up of Private Sector-owned Refineries.
The director-general stated that there should be
redefinition of the role of the Petroleum Products Pricing Regulatory Agency
(PPPRA) as an ombudsman.
This, he said, would ensure compliance with
products standards and fair competition that would guarantee reasonableness of
products pricing.
He urged the government not to delay any further
in pursuing the points listed by NECA.
Source: PM
