Deregulate oil sector now, Ohuabunwa tells Buhari

A former Presidential aspirant on the platform of the Peoples Democratic Party in the 2023 general elections, Sam Ohuabunwa, has lashed out at the President, Major-General Muhammadu Buhari (retd.), over his inability to enforce price control in the oil and gas sector.

“First, official deregulation will mean, that many more companies and oil marketers can import fuel under the supervision of the Regulatory agency, thus immediately easing the scarcity and ending the double jeopardy of many motorists and road users.

“This is not to talk of the misery of those who travelled in commercial vehicles this season. Many were stranded at motor parks as they found that their budget could not meet the daily changing fares! The statement added, “N3.5Trillion can do so much for our infrastructure, especially when it is noted that only N5.9Trillion is the entire Capital budget in a N22 trillion Budget for 2023. It can build several roads and bridges across the country or transform our entire educational and healthcare system.

“To deny this speculation and save a whooping N3.5 trillion, I urge this government to formally announce the deregulation now or if they are ‘afraid’ to do for whatever reason, then they should open up the market ‘surreptitiously’ as well so that supply can expand and allow market forces to fix price.

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