Three Refineries to begin operations in Akwa Ibom, NIgeria

Governor Udom Emmanuel of Akwa Ibom State, Nigeria has disclosed that three private refinery operators have indicated interest to start operations in the state.

Governor Udom stated this during the monthly prayer meeting at the Latter House Chapel, Government House, Uyo and warned marketers against contravening the miscellaneous code which he said, is punishable by law.

He also advocated for the liberalisation of the petroleum downstream sector to make room for an interplay of market forces which would regulate the cost of Petroleum products for the consuming public.

The Governor was speaking against the backdrop of artificial scarcity of premium motor spirit (PMS) created by the marketers who have closed their stations and in the process deny motorists and the consuming public, access to the product.

“Petroleum marketers are hoarding fuel on the pretext that the just concluded National Economic Council would push for the removal of Petroleum Subsidy. Let me clarify that during our last meeting, even at the Governor’s Forum, subsidy issues were not deliberated. If at all it will be removed, it’s not going to be immediately, so there’s no point hoarding fuel hoping that subsidy will be removed for them to enjoy super abnormal profits.”

This post first appeared HERE

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