The Independent Petroleum Marketers Association of Nigeria (IPMAN) has urged Federal Government to deregulate importation of diesel and kerosene to ensure availability of the products. Mr Olumide Ogunmade, Chairman of IPMAN in Western Zone, made the suggestion in Lagos.

He said that the scarcity of the products would continue if NNPC remained the sole importer and that importation of the products could not be a lasting solution.

“Government should ensure full deregulation of kerosene to avert frequent scarcity, usually encountered by marketers. The present importation of kerosene by NNPC is a temporary measure to ease scarcity in the market,” he said

Ogunmade said that full deregulation of the energy sector was the only way to address problems of scarcity of diesel and kerosene. The union boss said that the inability of government to carry marketers along also contributed to the scarcity and the high prices of the products.

The IPMAN chief said that some marketers were profiteering from the scarcity by hiking prices of the products. “When the sector is fully deregulated, many players will come into the business and create an open market that will be attractive and ensure efficient supply. If the sector is fully deregulated, it will attract investors. Building of local refineries will also assist in addressing scarcity and high prices of the products,” Mr Ogunmade said.

He said that there was nothing wrong with deregulation and removal of subsidy on petroleum products since it had succeeded in other economies.

The IPMAN Chief said that what was essential was for government to ensure transparency among marketers so that consumers would get value for their money. Ogunmade said that government should revive the refineries and open multi-channels through which the products could get to consumers.

Eight ships laden with kerosene berthed at the Takwa Bay in Lagos last weekend.