The Federal Government on Monday assured Oil Marketers in the country of its unwavering commitment to address the growing challenges of petroleum products procurement and distribution.
Chief Executive Officer, CEO of the Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA, Farouk Ahmed said the meeting with Oil Marketers was part of the strategy to avert product scarcity since the sector has been fully deregulated.
Some of the Marketers urged the government to urgently address the issues discussed at the meeting, saying the removal of fuel subsidy has thrown up new challenges as marketers now need huge funds to import.
The Marketers had earlier advised the government to consider setting the price of oil at N600 for the next three months to mitigate the impact of the recent surge in oil prices while waiting for the refineries to resume operations.
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