Chairman of the Independent Petroleum Marketers Association of Nigeria (IPMAN) at Ore Depot, Shina Amoo, has said that deregulation (fuel subsidy removal) has complicated business for marketers in the country due to the absence of active local refineries.
He stated this while speaking to the media recently.
According to him, government-owned depots have been abandoned, many marketers have become idle, while many have sold their stations or put them up for leasing, and the Dangote Refinery is not ready, further complicating issues for marketers.
“Deregulation is the best regime in our sector but the problem with this current regime is that our refineries are not working. Dangote that we believed in is not ready.
“All government-owned depots are abandoned. All the pipelines have been vandalized. There is no solution to the free flow of the product in the country. We are still on importation. Before deregulation, we could get petrol at N172 and sell at our stations for N190 or N195.
