Oil sector deregulation will provide more jobs – NOA
Marketers will be encouraged to resume importation of Petroleum " "Motor Spirit (PMS) which will lead to competition and at the long run, drive prices down."
The National Orientation Agency (NOA) says the deregulation of the downstream sector of the petroleum industry will create more job opportunities for Nigeria’s young people.
The Kaduna State Director of NOA, Alhaji Zubairu Galadima-Soba, disclosed this on Monday.
He said that the deregulation policy was aimed at opening the petroleum sector to healthy competition where market prices reflected market realities, thereby encouraging competition.
According to him, the policy will encourage foreign investors to come into the sector to create jobs and bring in infrastructure development.
“Marketers will be encouraged to resume importation of Petroleum Motor Spirit (PMS), which will lead to competition and, in the long run, drive prices down.
“Trillions of naira spent on subsidies would be used to develop critical infrastructure across different sectors such as health, education, agriculture, and many others.
“The deregulation of the sector will also discourage the smuggling of Nigeria’s already subsidized PMS to other countries, which is sometimes the reason for fuel scarcity,’’ he said.
The state NOA boss explained that the agency had embarked on sensitisation campaign to deepen the knowledge of citizens and engender their support for the policy.
He further explained that the sensitization campaign cut across all 23 local government areas of the state with the aim of securing citizens’ support for the removal of fuel subsidies by the Federal Government.
Galadima-Soba stated that the agency had already taken the message to traditional leaders’ offices, religious worship centers, village squares, motor parks, markets, and communities.
“While interacting with the people, they decry the hardship they are experiencing due to the policy but expressed hope that the situation is just temporary.
“They appealed to the Federal Government to ensure judicious use of the money saved from the subsidy removal for developmental projects that would benefit the common man.
“We assure them of government’s commitment towards improving the welfare and security of its citizens while urging them to support the government,’’ he said.