The Independent
Petroleum Marketers Association of Nigeria (IPMAN) on Thursday called
for full deregulation of the energy sector to address problems of
scarcity of diesel and kerosene.
Olumide Ogunmade,
chairman, western zone of IPMAN, told the News Agency of Nigeria (NAN)
in Lagos that the failure of government to attract investors to the
sector contributed to scarcity of these products.
He said that the
high prices of crude oil in the international market also contributed
to the scarcity and the high prices of the products in Nigeria.
The IPMAN chief said that some marketers were already profiting from the scarcity by hiking prices of the products.
“When the sector is
fully deregulated, many players will come into the business and create
an open market that will be attractive and ensure efficient supply.
“If the sector is
fully deregulated, it will encourage and attract investors. Building of
local refineries will also assist in addressing the scarcity and high
prices,” Mr Ogunmade said.
