-Felix Douglas
Moderating a panel session on downstream, the Executive Director (ED) of Emmanuel Egbogah Foundation, Professor Wumi Iledare, pointed out that every player has the right to play in the industry.
This is the essence of existence but there must be agreement to cooperate.
“Let us recognize the ability of the market to deliver value because the market is anti-competitive and it rests on an institutional authority.”
Professor Iledare said the market will fail, if operators do not depend on the regulator to do the right thing. It should not depend on the public seeking their sympathies.
The ED Emmanuel Egbogah Foundation lauded removal of subsidy which has made petroleum products to be ubiquitous without queues in filling stations. Previously, especially towards the end of the year, petroleum products were either hoarded with scarcity but at present, people can buy fuel without distractions.
The trend can only continue if operators do not distract the process with an enhanced regulation.
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