The Federal Government has been urged to set up a Domestic Petroleum Sector Management team to check incessant increases in petroleum pump prices.
Speaking to our correspondent in Port Harcourt, An Economist, Dr. Emmanuel Osilem, said to ensure that domestic production, refining, distribution and pricing of all petroleum production in Nigeria is devoid of happenings in the international oil market, the Federal Government must become proactive.
Dr. Osilem, who made the proposal while reacting to the recent increases in the price of petrol, noted that it is embarrassing that Nigerians must bear the brunt of any sleaze in the international oil market, in spite of being a major oil producing nation.
According Dr. Osilem, the proposed model would ensure that the oil sector is managed in such a manner that will be beneficial to Nigerians.
On fears that the proposed model would amount to government venturing into a de-regulated sector, Dr. Osilem, explained that the government cannot allow issues in the oil and gas sector be entirely determined by the private sector.
He called for the implementation of a model that would among others, check monopoly and ensure sanity in petroleum pricing and distribution in the country.
Dr. Osilem emphasized that government must be intentional in formulating policies to ensure the realization of their purposes
Reacting to the hike in prices of Petroleum products, a social commentator Mr. Mufasa Eyinmosa advised the government to be proactive and ensure that the government owned refineries are fully operational to complement privately owned refineries
Mr Eyinmosa said petrol ought not to be expensive in a country with four government owned refineries and urged the government to take steps to ease the burden on citizens.
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