Vanguard gathered that many of the stakeholders invited to engage with the president, as part of measures at finding a lasting solution to the lingering fuel scarcity, tomorrow, are in favor of total deregulation.

For instance, Mr. Mike Osatuyi, National Operation Controller, Independent Marketers Association of Nigeria, IPMAN, told Vanguard that total deregulation remained the best solution to ending the fuel scarcity.

“The deregulation of the downstream sector remains the only potent and lasting solution for ending the scarcity. But cost implication of the policy will make the price of petrol too expensive for Nigerians.

“The explanation is that the deregulation of the downstream will shift the burden from the government to users of the product. Consequently, the present government may be reluctant in introducing the policy because of imposing more suffering on the already impoverished masses.”

The meeting will likely examine other options, including continued massive importation by the Nigerian National Petroleum Corporation, NNPC and the involvement of oil marketers in direct importation of the product.

The major and independent oil marketers, it was gathered would need discounted allocation of N250 to a dollar and approval by the government to import the product.

The marketers believe that the second option will be better as they already have commercial storage facilities to store and distribute the product to filling stations nationwide.

Vanguard, meanwhile, gathered that the engagement will be attended by Dr. Ibe Kachikwu, Minister of State for Petroleum Resources; Mr. Maikanti Baru, Group Managing Director, NNPC; Mr. Mordecai Ladan, Director, Department of Petroleum Resources; Mr. Femi Olawore, Executive Secretary, Major Marketers Association of Nigeria, MOMAN; Mr. Mike Osatuyi, National Operation Controller, IPMAN; and Mr Olufemi Adewole, Executive Secretary, Depot and Petroleum Products Marketers Association, DAPPMA.

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