Nigeria achieves 75% downstream deregulation – PPPRA

15 March 2017, Sweetcude, Lagos –  The Petroleum Products Pricing Regulatory Agency, PPPRA, has revealed that Nigeria has achieved 75 percent deregulation of the downstream petroleum sub-sector.
Acting Executive Secretary Victor Shidok, who disclosed this in Lagos, assured petroleum products consumers of adequate supply of the products at 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.
The PPPRA boss vowed to sanction 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.