The removal of price cap on fuel has not changed anything as far as deregulation of the downstream sector is concerned, the Chief Executive Officer, Major Oil Marketers Association of Nigeria (MOMAN), Clement Isong, has said.
The federal government Thursday removed the existing cap on fuel prices.
With the removal, it was thought that the marketers can now import the products and sell at prevailing market prices, without the usual price band.
But the major oil marketers said it is business as usual as government still has control on the sector.
MOMAN’s CEO, Clement Isong, told Daily Trust yesterday that it was misleading to say that marketers could fix prices because nothing had really changed.
“Nothing has changed. It is still the same old way”, he said.
