The Lagos Chamber of Commerce and Industry, LCCI, has called on the incoming government of General Muhammadu Buhari to immediately deregulate the downstream sector of the oil and gas industry, saying it is the only solution to the recurrent scarcity of petroleum products in the country.
According to LCCI, the current model of managing the sector has done serious damage to the Nigerian economy.
LCCI said: “Government needs to get out of the way so that the sector and the economy as a whole can make progress.
“Deregulation will pave the way for the restoration of normalcy in the sector and attract private capital, boost investments and create jobs.”
Speaking further, the LCCI President, Alhaji Remi Bello, said: “Deregulation has become necessary to provide an enduring solution to the recurring problems in the sector.”
Comments