Stakeholders in the petroleum sector have advocated for outright removal of subsidy from petrol with a view to optimally harness the opportunities in the sector for the benefit of Nigeria and Nigerians.
The Director, Centre for Petroleum, Energy Economic and Law, University of Ibadan, Prof. Adeola Adenikinju and the Chairman,
Independent Petroleum Marketers Association of Nigeria, IPMAN, Oyo/Osun, Alhaji Mutiu Bukola expressed the view on the maiden edition of BCOS Television Breakfast Yoruba Programme, ‘Kutuhai’.
According to Prof. Adenikinju who has worked on subsidy economy over the last 30 years, it is inevitable for Nigerian Government to remove subsidy from petroleum products and divert such fund to infrastructure development.
In his submission, Alhaji Mutiu Bukola observed that subsidy removal may be hard on the people at the onset but it will pay all on
the long run.
The duo canvassed for prompt passage and sincere Implementation of the Petroleum Industry Bill, PIB to further attract investor to the sector and create competition and ultimately lead to good pricing.