DEREGULATION, THE TRUE WAY TO DEVELOPMENT.....F.A ITODO

Before we use our preconceived notion and misconstrue certain reality with politics, Government did not fix the price of the PMS at #145 as being circulated on social media and many people, the Government only says marketers should source for Forex themselves, import the product and sell at any price from #0- #145.the official pump price of PMS remains #86.50 per liter at the NNPC Mega Stations and other Major Marketers' outlets like Oando, Forte Oil, Total oil, Exon mobile etc. Nigerians have been buying pms product even above the #145 naira which the government now set as bench mark for marketers when subsidy was in place, the federal government was paying heavily on ghost subsidy that have been entering individual's(oil marketers) pocket, and continue to struggle with the unending settlement of subsidy debt which they had managed to pay about N600 billion outstanding claims by marketers for subsidy inherited from the previous administration, yet the product was never available for common men on the street. A healthy competition is the only tool needed to take care of the market environment and force in availability of the product in near future, nobody will like to build a fuel station for people to be looking at it and be praising the building, they build it to sell as often as possible, turn over as quick as possible and make good money, If Mr. A says he will be selling his product at 145 naira which is the maximum allowed by the Government at all cost, and Mr. B is there willing to import more of the product and sell at #135 naira and make more money, Mr. A who may end up selling only one truck for number of months will be forced to reduce his own price too and sells in volume so he can also make more money, that is how the competition will continue until the price get to the barest minimum. What deregulation implies in practical terms is simply a call on individuals, groups,associations,independent oil marketers , business men etc. to competitively work for their money, it is also a call for every interested individuals to invest their money into the oil sector and make good returns on their investment, Government can not afford to be spending much money on subsidy when in real terms only the marketers benefits and the masses continue to suffer in double fold, the subsidy money would be reinvested into other key sectors of the economy such as the dead mining and industry, textile industry etc , Some of the oil companies have laid off hundreds of their staff because the business environment was not friendly at all for them to operate freely their profit margin dropped and the nearest option is to reduce their workforce to suit the money they are making, but here comes a decision that will boost their business and attract more investors to the oil industry. Yes the immediate pains is certain and people are bounds to suffer, but believe you me at the long run competition will make the price of oil bearable and affordable, Suffering the Bible Says last for a night but Joy cometh in the morning.