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Deregulation ‘ll attract refineries – Marketers

By Francis Akinnodi


Nigeria can develop into the refining hub for Africa, therefore becoming a net exporter of refined products following the Federal Government’s new policies on alternative energy, total deregulation, liberalization of the petroleum downstream sector, and the coming on stream of new modular refineries, Major Oil Marketers Association of Nigeria (MOMAN), has said.
The association also said Nigeria has an opportunity to grow big on alternative energy such as gas and solar energy, adding that the country must gird its loins to ensure that green alternative sources are strategically developed, and their usage deepened nationwide for the benefit of Nigerians.
According to the marketers, there must be cheaper and cleaner alternatives to petrol and diesel made available to the public especially as full deregulation of the Nigerian petroleum downstream sector kicks in.
MOMAN also said it was supporting the government’s gas initiatives, and keying into the auto gas space to give Nigerians a cleaner and greener alternative to power their automobiles, homes and other equipment.
It added: “The idea of deepening the use of gas comes at a very auspicious time as we grapple with increasing PMS prices due to the deregulation of the petroleum downstream sector.”
According to the marketers, the need to develop CNG, LPG and LNG as an alternative to petrol and other fuels has never been more critical, especially with the recovery of crude oil prices, and the rising demand for refined products as the winter months approach in Europe.

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