*As Venezuelan hails FG on downstream liberalization

By Ediri Ejoh, with agency reports

LAGOS — There were indications, yesterday, that the hike in price of petrol to N145 per litre may not bring an end to scarcity which had longed halted economic activities in Nigeria.

This is as growing fleet of tankers stuck off Nigeria are reported to have been unable to unload their cargoes of diesel and petrol due to challenges in accessing Forex for import.

At least 75 ships with two and a half million tonnes of fuel are waiting for importers in Nigeria to find the dollars they need to pay for the cargoes, according to ship tracking data and fuel traders.

Reuters reported that some of the vessels arrived a month ago and their frustrated owners have almost given up hope and started to offer their fuel to buyers outside Nigeria.

Meanwhile, former Venezuelan Minister of Mines and Energy, Dr. Alirio Parra, has described the decision of the Federal Government to liberalize the downstream sector of the oil and gas industry as historic and smart.

Parra, who is also a member of the global oil industry outfit, CWC Group, stated at a forum in Abuja, weekend, that the liberalization of the downstream sector in the country was a bold testament to the fact that oil was a market-driven commodity.

This was contained in a statement signed by the Group General Manager, Group Public Affairs Division, Nigerian National Petroleum Corporation, NNPC, Garba Deen Muhammad, weekend.

The statement had the former minister saying: “One really important change in the oil and gas industry in Nigeria is the decision by the Federal Government to open the domestic market for competition.”