Maritime Sector Backs Proposed Oil Subsidy Removal
20.05.12
Share
The Federal Government desire to convince Nigerians on the need to deregulate the down stream oil sector on Friday received the backing of the Nigeria Maritime industry, as core stakeholders threw their weight behind it, backing the government’s call for total removal of the oil subsidy.
The industry stakeholders which included Indigenous Ship-owners Association of Nigeria (ISAN), freight forwarders umbrella body, Association of Nigeria Licensed Customs Agents (ANLCA), Nigerian Association of Master Mariners and the maritime lawyers as well as government decision makers at a “village meeting” which held at Protea Hotel, Ikeja, Lagos also observed that the wrong administration of the subsidy by past administrations had stymied the take off of the Nigerian tanker industry and development of the maritime industry generally; hence their support for its removal now.
The stakeholders pointed out that the nation’s economy has been seriously destroyed through government’s price control mechanisms. They thus concluded that the government cannot run the economy as it was done over the years without it crashing, hence the need for the restructuring of the economy.
Source: Nigerian Tribune