The Chairman of Major Oil Marketers Association of Nigeria and Managing Director of 11Plc, Mr. Tunji Oyebanji, who fielded questions at a recent Webinar organised by the Association of Energy Correspondents of Nigeria, stresses the need for the Petroleum Industry Bill to make adequate provision for the protection of consumers of petroleum products against possible sharp practices by some roguish marketers.
Since deregulation will lead to increased investments in the downstream sector, will the IOCs build refineries in the country because they have built in other countries but refused to build in Nigeria? The whole issue of gas is the new and very exciting development. As you know, the Federal Ministry of Petroleum Resources has declared 2020 as the Year of Gas. The National Gas Expansion Programme is working very actively with all stakeholders including MOMAN to rapidly develop the use of not only LPG but CNG to fuel cars and fuel buses and trucks.
The federal government said prices of petroleum products will not drop even if Nigeria starts refining and that products will still be sold at the international prices, how true is this?
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