Nigeria achieves 75% downstream deregulation – PPPRA

*Petrol nozzle.

Kunle Kalejaye

06 March 2017, Sweetcrude, Lagos —
The Petroleum Products Pricing and Regulatory Agency, PPPRA has revealed that Nigeria has achieved 75 percent deregulation of the downstream sector of the petroleum industry.

The Acting Executive Secretary, Mr. Victor Shidok who disclosed this Lagos assured end users of petroleum products of adequate supply and affordable prices.

“ We can say that we have not fully deregulated but I am bold to say that we have achieved 75 percent of downstream deregulation which has resulted in the purchase of petroleum products without experiencing long queues at filling stations across the country, ” Shidok said.

PPPRA ES also vowed to sanction petroleum marketers exploiting motorists and users of petroleum products noting that countries with deregulated regime have adequate mechanism to protect consumers from exploitation by petroleum marketers.

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