The Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN), has implored the Federal Government to take a further step towards full deregulation of the downstream sector to enhance economic growth and development of the nation.
Its chairman, Mrs. Winifred Akpan, who gave the advice in Lagos, commended the government for consistently seeking ways to reposition the sector for effectiveness and profitability.
She expressed her association’s support for implementation of a deregulated regime which will make the sector’s operations more seamless, enhance transparency, competitiveness and sustainable growth.
“DAPPMAN is mindful of the commitment of the government and the functional organs managing the sector to ensuring value to every Nigerian and we salute them for this as we are indeed up against uncertain times.
“However, we believe that full deregulation of the sector remains the most viable option for Nigeria to effectively navigate this period and ultimately safeguard the future of our economy and wellbeing of 200 million Nigerians” she said.
According to Mrs. Akpani, deregulation will open up the sector for fresh investments, market deepening, diversification, and expansion, culminating 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.
“DAPPMAN is aware of the considerations that have dogged the issue of deregulation over the years and we believe they are very important. However, we believe these considerations will be duly addressed with a deregulation regime that guarantees long-term benefits and empowers the government to commit savings made in the process to infrastructure development, job creation, agricultural revolution, education and health.
This will spur growth of Small and Medium scale Enterprises (SMEs) as well as large corporates, that would increase Nigeria’s human capacity index, competitiveness and ultimately drive inflow of foreign investments,” she added.
