Despite some percieved problems, the Chief Executive Officer (CEO), Petrocam Trading Nigeria Limited, Patrick Ilo, has stressed that deregulation has provided the permanent solution to fuel shortage in Nigeria.

He said that with introduction of the policy by President Bola Tinubu, many operators have been encouraged to go into business in the downstream sector.

Speaking at the opening of the company’s new head office in Lagos, he said:  “President Bola Tinubu was conscious about deregulation. There are problems but problems are meant to be solved; we will surmount the problems and over time they will be over. I can guarantee that there will be no fuel scarcity in Nigeria with deregulation.”

Similarly, the Founder of Petrocam Group, Shiraz Gany, said the challenges, especially access to foreign exchange being encountered by operators would be solved.

He said: “Deregulation has been good for the country because, at least, there are no inefficiencies. You can pay for premium motor spirit (PMS) at market price. Government can now spend money on critical infrastructure to make the country more efficient for Nigerians.”

Also, speaking, Chief Operating Officer of Petrocam, Mrs. Eyo Oghogho disclosed that the company started operations with one filling station, but now they can boost of 45 filling stations in Nigeria.

She said that all the 45 filling stations are in Lagos and Oyo States, adding that plans are underway to open outlets in other parts of the country.