Ifeanyi Ubah Urges Buhari To Stop Subsidy On Petrol And Probe Marketers
The Managing Director, Capital Oil, Mr. Ifeanyi Ubah, has urged President Muhammadu Buhari to stop subsidising petrol and probe oil marketers whose actions almost led to the shutdown of the country recently.
Speaking with journalists in Abuja, the Capital Oil boss, Ubah, appealed to Nigerians to support the deregulation of the oil and gas sector, noting that this would boost the refining of oil in Nigeria as well as reduce the prices of petroleum products across the country.
Ubah said, “I urge President Buhari to take a bold step and deregulate the oil sector. He is not a stranger to the sector having been a former minister of petroleum. He will be respected if he takes the step because there is no point in paying subsidy when Nigerians are not benefiting from it.
“The President will be doing the right thing if he deregulates the sector so that the product will be sold at a cheaper rate in the future. I have always been of the view that we should deregulate so that we can cut out corruption, but unfortunately, Nigerians didn’t take it from former President Goodluck Jonathan.”