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Deregulation: Nigeria's downstream oil sector stagnates, loses billions over uncertainty, subsidy


 
The continued dominance of the Federal Government, despite the deregulation of the downstream sector, has fueled uncertainties, and stifled investment.
Energy Vanguard investigation, weekend, showed that the dominance has continued to push the sector towards a negative trajectory, which culminated partly in the divestment of operators, especially Oando, Forte Oil, and Mobil.
Specifically, the policy flip flops have also constrained potential investors from making long term strategic plans required to deploy capital in the downstream sector.
Oil marketers criticise govt
In an interview with Energy Vanguard, the National President of Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), Dr Billy Gillis-Harry, maintained that, once deregulation is properly outlined and the rules of engagement brought out, its members, comprising major and independent marketers, as well as depot owners, are ready to commence fuel import. ....

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