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Don’t Remove Petroleum Products Subsidy –PENGASSAN
The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) on Wednesday described the call for the removal of subsidy on petroleum products as uncalled for.
This was contained in a statement in Lagos by Mr Babatunde Ogun and Mr Bayo Olowoshile, PENGASSAN President and General Secretary respectively.
The statement was in reaction to the request by state governors to the Federal Government to remove subsidy to ensure more allocation of revenue from oil for states to enable them to pay the minimum wage.
PENGASSAN said government should put in place things that could make Nigerians derive maximum benefits from the system before any removal of subsidy.
“The government should ensure that large chunk of crude produced in Nigeria is refined locally to meet local demand.
“Refineries should function at optimal capacity to boost local refining and more refineries should be built by private sector operators,’’ it said.
It urged the government to provide a level-playing field and an enabling environment to all private sector participants.
It also urged the government to provide socioeconomic relief measures to assuage the impact of the import-driven deregulation programme.
According to PENGASSAN, there is need to sustain the interest of investors and operators in the downstream sector, whose obligation is to continue to guarantee the steady supply of petroleum products.
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