Chairman, Senate Committee on Petroleum Downstream, Sen. Garba Marafa, says that total deregulation of the petroleum downstream sector remained the best option to salvage Nigeria’s economy.
Marafa, who spoke on the sidelines of ongoing 16th Nigeria Oil and Gas conference in Abuja, said that the Senate had consented and moved for total deregulation of Premium Motor Spirit otherwise known as petrol.
According to him, total deregulation is the solution and the 8th Senate is determined to give Nigerians a direction in the downstream and curb the corruption in the sector.
The lawmaker said that the Department of Petroleum Resources would be made stronger in order to regulate effectively.
According to him, President of the Senate, Dr Bukola Saraki, took it upon himself to ensure that the bill is passed this year.
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