Matters Arising From Petroleum Minister’s Press Statement (11/5/16).
“Following a detailed presentation by the Honorable Minister of State for Petroleum Resources, it has now become obvious that the only option and course of action now open to the government is to take the following decisions: 1. In order to increase and stabilise the supply of the product, any Nigerian entity is now free to import the product, subject to existing quality specifications and other guidelines issued by Regulatory Agencies”.Minister of State For Petroleum, Wednesday, 11/5/16. Good news that every qualified Nigerian business concern can now import petroleum products. This is a sort of deregulation. Hoping that forces of demand and supply ,will take effect here, such that there would availability of petroleum products. Let there be competition amongst importers, which will be to the best interest of the consumer. It would be interesting to know the guidelines by the regulatory agencies.
C.V.Akuta Media UK.