Business
Stakeholders Want Total Deregulation Of Oil, Gas Sector
Stakeholders in the oil and gas industry have called for the total deregulation of the downstream sector as a way out of the lingering fuel scarcity sweeping across the country.
A top official of the Petroleum Products Pricing Regulatory Agency (PPPRA), who pleaded anonymity, told newsmen in Abuja recently that a multi-phased deregulation process was the only way out of the scarcity.
The official, who decried the lingering scarcity, called for adequate enlightenment and the provision of cushioning measures before the total removal of subsidy.
“I think the full deregulation of the downstream sector will be the way out of the lingering fuel crises we are experiencing,’’ the official said.
He said the scarcity would continue until the first quarter of 2013 “if something urgent is not done because the demand for the product has over-shot supply’’.
The official said that the delay in the payment of subsidy arrears to most marketers had contributed immensely to the current scarcity as only the NNPC was currently importing the product.
He, however, said that for the deregulation process to be effective there was need to resuscitate the country’s refineries, build adequate fuel reserves, tank farms and functional pipeline network.
The Executive Secretary, Major Oil Marketers Association of Nigeria (MOMAN), Mr Obafemi Olawore,said the full deregulation of the downstream sector would bring about efficiency in the sector and signal an end to the perennial fuel crises.
He explained that most oil marketers stopped the importation of the product since the beginning of the year due to what they described as “discrepancies in subsidy payment’’ which they said was responsible for the current scarcity.
Mr Dapo Abiodun, the Chairman, Depot and Petroleum Products Marketers Association of Nigeria (DAPPMA), also called for the deregulation of the sector as a way of sanitising it.
Business
Kenyan Runners Dominate Berlin Marathons
Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.
Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.
The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.
Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.
“I did my best and I am happy for this performance,” said Sawe.
“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”
Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.
In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.
Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.
Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.
Business
NIS Ends Decentralised Passport Production After 62 Years
Business
FG To Roll Out Digital Public Infrastructure, Data Exchange, Next Year
-
Sports5 days ago
CAFCL : Rivers United Arrives DR Congo
-
Sports5 days ago
FIFA rankings: S’Eagles drop Position, remain sixth in Africa
-
Sports5 days ago
NPFL club name Iorfa new GM
-
Sports5 days ago
NNL abolishes playoffs for NPFL promotion
-
Sports5 days ago
NSF: Early preparations begin for 2026 National Sports Festival
-
Sports5 days ago
Kwara Hopeful To Host Confed Cup in Ilorin
-
Sports5 days ago
RSG Award Renovation Work At Yakubu Gowon Stadium
-
Politics4 days ago
Rivers Assembly Resumes Sitting After Six-Month Suspension