The Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) says deregulation will open up the downstream oil sector for fresh investments.
In a statement on Sunday, DAPPMAN said deregulation would also bring about market deepening, diversification, and expansion.
The association said these would culminate in stable demand and supply regimes, ‘which are critical to ensuring that consumers have uninterrupted access to affordable quality products without the huge financial burden currently borne by the government’.
Full deregulation of the downstream sector would enhance economic growth and development of the nation, says DAPPMAN.
DAPPMAN’s Chairman, Mrs Winifred Akpani, while commending the government for consistently seeking ways to reposition the sector for effectiveness and profitability, said DAPPMAN remained in support of the implementation of a fully deregulated regime, which she said would make operations in the downstream sector more seamless, enhance transparency, competitiveness and sustainable growth.
According to Akpani, DAPPMAN is aware of the considerations that have dogged the issue of deregulation over the years and believe they are very important.