Barely 48 hours after the
former British Prime Minister,
Mr. Tony Blair asked President
elect, General Muhammadu
Buhari to remove fuel subsidy
within his 100 days in office, the
Depots and Petroleum Products
Marketers Association,
DAPPMA has stressed the need
for the in-coming administration
to remove the subsidy.
The Executive Secretary of
the Association, Mr. Adewole
Olufemi who reiterated the need
for total deregulation of the oil
sector explained that, that was
the only way that peace can be
enthroned in the sector and he
advised Nigerians to embrace
the step whenever the incoming
government makes the
move to remove fuel subsidy.
The Executive Secretary who
spoke with NAN in Lagos
yesterday said, apart from
eliminating incessant scarcity
of petroleum products in the country, deregulation would
also enhance competition in the
OilSpeaking further, Olufemi
said that like diesel, deregulation
would eliminate incessant
scarcity of other petroleum
products because according to
him: “Diesel is not scarce, you
can go to any filling station in
the country to buy diesel at a
different price and that is why
we hardly have scarcity of the
“Deregulation will afford
marketers the opportunity to
sell their products without
government interference,” he
According to him, total
deregulation of the sector would
make the products available
and encourage competition in
the sector.
“Deregulation will be in
the best interest of everybody.
We have always called for
this because we know that
everybody will benefit from it.
“The government will only be
responsible for regulating the
price after the landing cost of the
products had been ascertained,”
he added.
He recalled that petroleum
products had not been sufficient
due to lack of competition in the
oil and gas sector.


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