The National Orientation Agency has said that the deregulation of the downstream sector of Nigeria’s petroleum industry will play a vital role in unlocking substantial job prospects for the country’s young workforce.
The disclosure was made by Alhaji Zubairu Galadima-Soba, the Director of the National Orientation Agency (NOA) in Kaduna State, in an interview with the News Agency of Nigeria (NAN) on Monday.
Alhaji Zubairu Galadima-Soba highlighted that the deregulation policy aims to foster a competitive atmosphere within the petroleum sector, enabling market prices to accurately reflect market dynamics and encouraging healthy competition.
The intention behind the policy, as stated by Alhaji Zubairu Galadima-Soba, is to encourage foreign investors to engage in the sector, thereby generating employment opportunities and contributing to infrastructure development.
‘Marketers will be encouraged to resume importation of Petroleum Motor Spirit (PMS) which will lead to competition and in the long run, drive prices down.’
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‘Trillions of naira spent on subsidy would be used to develop critical infrastructure across different sectors such as health, education, agriculture, and many others.’
‘The deregulation of the sector will also discourage the smuggling of Nigeria’s already subsidised PMS to other countries which sometimes is the reason for fuel scarcity,’ he added.
It was explained by the Director of the National Orientation Agency (NOA) in the state that the agency has initiated a sensitization campaign, seeking to deepen citizens’ understanding and encourage their backing for the policy.
In addition, he stressed that the wide-reaching sensitization campaign extended to all 23 local government areas of the state, seeking to garner citizens’ endorsement of the Federal Government’s decision to eliminate fuel subsidy.
Galadima-Soba mentioned that the National Orientation Agency (NOA) had already conveyed the message to traditional leaders’ offices, religious worship centers, village squares, motor parks, markets, and communities.
‘While interacting with the people, they decry the hardship they are experiencing due to the policy but expressed hope that the situation is just temporary.’
‘They appealed to the Federal Government to ensure judicious use of the money saved from the subsidy removal for developmental projects that would benefit the common man.’
‘We assure them of the government’s commitment towards improving the welfare and security of its citizens while urging them to support the government,’ he added.
NOA endorsed the development Of the oil sector deregulation and urged citizens to get involved as it’s in the best interest of the country to boost employment, decrease prices, and drive infrastructural growth.