Transporters, under the aegis of Nigerian Association of Road Transport Owners (NARTO), have said there is the need for the government to deregulate the downstream oil and gas sector to encourage more players.
President of NARTO, Alhaji Lawal Yusuf Othman, who spoke after a guided tour of the Dangote refinery Plant in Ibeju-Lekki area of Lagos, reiterated that deregulation will encourage more players into the downstream sector as well as attract foreign and local investment.
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Othman said: “It is difficult to invest billions of dollars into a sector, where prices are determined by government.”
He expressed optimism that the 650,000 barrels-per-day Dangote Petroleum Refinery would deepen the downstream sector and positively impact their businesses as well as accelerate the development of Nigeria’s oil and gas sector.
The NARTO leaders commended the President of Dangote Industries Limited, Aliko Dangote, for his huge investment in petroleum refining.
