NECA PRAISES FEDERAL GOVERNMENT ON FUEL PRICE MODULATION

 NECA PRAISES FEDERAL GOVERNMENT ON FUEL PRICE MODULATION

Employers under the aegis of Nigeria Employers’ Consultative Association (NECA) has praised the Federal Government for the new fuel price modulation.

Speaking with newsmen the Director-General of NECA, Mr Olusegun Oshinowo, said hopefully, the issue of fuel subsidy and its financing would not surface again in the government’s budget. He said it is pertinent for government to focus on the policy framework as well as incentives that will ensure that Nigeria is self-sufficient in the refining capacity to meet her energy needs.

Oshinowo, however, noted that the organised private sector is expecting a decisive, unambiguous and explicit policy statement that fuel subsidy regime has ended. He said government should also ensure the privatisation of the four refineries and jointly agree on a timeline and modalities with investors on the utilisation of the licences already issued for the setting-up of private refineries.

Oshinowo stated that there should be redefinition of the role of the Petroleum Products Pricing Regulatory Agency (PPPRA) as an ombudsman. This, he said, would ensure compliance with products standards and fair competition that would guarantee reasonability of products pricing.

He urged the government not to delay any in pursuing the points listed by NECA.

LTV

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