The Manufacturers Association of Nigeria (MAN) has urged the Federal Government to make efforts at revamping the nation’s ailing refineries and regulate the fluctuating pump price of petrol. Mr Ambrose Oruche, the Acting Director-General of MAN, also called for quick passage of the Petroleum Industry Bill (PIB) when he spoke with newsmen on Thursday in Lagos. “Over the years, the Organised Private Sector has been requesting for full deregulation of the petroleum industry so that more investment can come into that sector and the economy of the nation can be improved. “The deregulation which came in as a result of COVID-19 pandemic was a welcome development; petrol price fluctuates just as the price of automotive gas oil which have been deregulated over a long time. “It will also have implications on businesses, particularly small businesses that depend on petrol to power their generators to augment electricity supply.

Source: The Guardian August 06, 2020 13:17 UTC