Petrol Subsidy: Oil Marketers Seek Unstaggered Dollar Rate

Oil marketers have urged the Federal Government not to give special advantage to any person or group of persons in the sale of the United States dollar if the government wants to affect the petrol subsidy.

According to the oil marketers, the aim of achieving a subsidy on petrol will be ineffective if the dollar is sold at a wavery rate. 

Allnews earlier reported that the Group Managing Director, Nigerian National Petroleum Corporation, Mele Kyari, announced on Monday that petrol subsidy or under-recovery was gone forever in Nigeria.

Reacting to this, the National President, Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) Billy Gillis-Harry said; “We are in support of it. The reason why we support it is that we need to have a situation where market forces will determine the economy of Nigeria.

“However, we advise the government that while they remove subsidy on petrol, there should not be any special advantage to selected persons as regards the sale and purchase of dollars.”

He added, “We don’t want a situation where the dollar will be sold at staggering rates to the advantage of some persons. They must make sure that everybody buys foreign exchange at the same price and is able to sell their products as determined by market forces.”

Emphasizing on the cost of crude oil and the possibility of the price change, Gillis-Harry said; “Well, the reality is that market forces will determine petrol price.”

According to him, businessmen who are true entrepreneurs should determine the growth of the economy, “just like it is done in most advanced countries of the world.”