PETROCAM CALLS FOR DEREGULATION OF DOWNSTREAM SECTOR

PETROCAM CALLS FOR DEREGULATION OF DOWNSTREAM SECTOR

Originally published on Feb 20, 2019

The Managing Director, Petrocam Trading Nigeria Limited, Patrick Ilo, has called on managers of the nation’s economy to deregulate the downstream sector of the oil and gas, as this will enhance competition in price and quality of petroleum products.

Ilo explained this at the official inauguration of its ninth solar powered and tenth filling station in Lagos. He said that the total deregulation of the downstream sub-sector of the nation’s oil and gas industry will put an end to the persistent problems obstructing the smooth operations of the sub-sector.

He advised the federal government to be impartial with operators in the industry, adding that the government must surrender any form of interference for the sector to grow.

“For the downstream sector to survive, the federal government must deregulate the downstream sector. The government has to surrender its interference and create a level playing ground for everybody. This will be to the advantage of all the players in the industry because prices will differ and services will abound. For the downstream to be competitive in terms of pricing, quality and consumerism the answer is to deregulate the sector”, he opined.

He noted that Petrocam is visible in every local government, providing quality services through its one-stop shop for petroleum products like gas, diesel, kerosene, lubricants, lube bay and other services, adding that plans are underway to reach about 57 Local Community Development Areas (LCDAs) of Lagos.

Omolara Sunmola, the Assistant Admin Manager, Petrocam Trading Nigeria Limited, who also spoke at the event said that the aesthetics and general operations of its brand is the selling point of Petrocam, adding that the firm is the only filling station running the highest solar powered filling stations in Nigeria.

According to her, the company is working hard to create a niche for itself in the Lagos market and also using solar to build a friendly environmental atmosphere. However, she noted that Petrocam do not have any outlet outside Lagos but will be expanding to Ibadan and Osogbo before the end of the year.