Founder of Moahz Group of Companies, Eng. Ola Abdulqadir has advised the Federal Government against full deregulation of the downstream sector of the Petroleum Industry, saying such a move would lead to rise in the cost of transportation and other essential commodities.
Abdulqadir, a leading member of the Nigeria LPG innovation for sustainable energy, in a statement in Abuja, yesterday, noted that implementing the petrol subsidy removal policy would have far reaching negative impact on the masses.
He, therefore, urged President Muhammadu Buhari not to increase the “hardship index” of the masses by removing subsidy on petrol.
According to him, “The governments’ involvement in a major economic determinant like petroleum is pivotal to how well the country and economy functions.
“This issue of petroleum subsidy removal, I believe should be strategically deployed to avoid panic and diffuse all agitations from the stakeholders that are acutely affected