There are indications that the Federal Government will abandon its price modulation policy this week and embrace deregulation in order to allow private marketers resume importation and sell at profitable margins. Already, the petroleum downstream sector seems to be going through another round of fuel supply challenges as queues are beginning to build up at filling stations while many marketers have resorted to rationing products. A source at the Ministry of Petroleum Resources who revealed this development yesterday said that the policy would likely push the pump price of petrol to about N130 per litre at retail outlets. Besides, the Petroleum Products Pricing Regulatory Agency (PPPRA) yesterday decried opposition to deregulation by a section of the stakeholders in the sector. The Executive Secretary of the PPPRA, Sotonye Iyoyo, explained that there was the need to allow the deregulation of the downstream industry in order to pave the way for […]