Stakeholders in the Nigerian Oil and Gas Industry Warn Nigerians to Prepare to Pay Up to N750 Per Litre of Petrol When Subsidy is Removed as Federal Government Prepares to Deregulate Downstream Sector

Stakeholders in the Nigerian oil and gas industry have warned citizens to be prepared to pay as much as N750 per litre of petrol at filling stations once the government deregulates the downstream sector. This was disclosed during an online workshop with the theme, “Deregulation of the Nigerian Downstream Sector: The Day After” over the weekend. The National President of IPMAN, Chinedu Okoronkwo, who was represented by IPMAN’s National Operations Controller, Mike Osatuyi, noted that the marketers were in full support of the government’s plan to embark on full deregulation of the downstream sector. He also suggested that the government should provide palliatives to the masses with the expected savings from subsidy removal. Okoronkwo further advised the government to be alert and sensitive to any resentment from Nigerians.