Luxury bus owners hail FG on subsidy removal, deregulation

By Moses Akaigwe

THE withdrawal of subsidy on fuel and the recent an­nouncement of a new pump price for the premium mo­tor spirit by the Federal Gov­ernment have been hailed by the Association of Luxury Bus Owners of Nigeria (AL­BON) which said the deci­sions would have positive impact on the availability of the products to end users.

Reacting to efforts by gov­ernment to address the un­ending problem of scarcity, the President of ALBON, Sir Dan Okemuo, disclosed that members are of the view that the removal of fuel subsidy would also result in massive private sector investment in the downstream sector of the oil and gas industry.

“It is self-evident that no private investor would in­vest huge sum of money in a sector that is heavily and rigidly regulated by the gov­ernment”, Okemuo argued. The association, however, appealed to government to plough the savings from the subsidy removal into the maintenance and reha­bilitation of major highways across the country.

While announcing gov­ernment’s latest move to address the problem of avail­ability of fuel in the country, the Minister of State for Pe­troleum Resources, Dr. Ibe Kachikwu, had disclosed that any Nigerian entity could now import PMS, sub­ject to existing quality speci­fications and other guide­lines issued by regulatory agencies.

Dr. Ibe Kachikwu, said all oil marketers would be al­lowed to import petroleum on the basis of foreign ex­change procured from sec­ondary sources.



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FUTO GBEDU: Whispering into your Ears | Admission lists | Certification Examinations: Luxury bus owners hail FG on subsidy removal, deregulation
Luxury bus owners hail FG on subsidy removal, deregulation
FUTO GBEDU: Whispering into your Ears | Admission lists | Certification Examinations
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