By Adaobi Rhema Oguejiofor
The Chief Executive Officer (CEO) of Petrocam Trading Nigeria Limited, Patrick Ilo, has said that the removal of petrol subsidy would bring about a permanent solution to the challenges of fuel scarcity in the country.
Ilo, while speaking at the opening of the company’s new head office in Lagos, expressed confidence that the removal of subsidy, which was earlier announced by the Nigerian government in May, had allowed market forces to determine the price of the commodity.
He also noted that the government’s decision to deregulate the downstream sector of the industry was a bold move and in line with the company’s long-standing position.
In his own words, “President Bola Ahmed 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.”