The special assistant to the President on Petroleum Engineer Funsho Kupolokum said during a visit to Vanguard on Friday that the Federal Government was getting worried by the continued financial loss by the corporation as result of monopoly enjoined by NNPC in the downstream sector of the oil industry. The government is getting worried. He stated that liberalisation will be line with the present democratic practice which allows participation in business without restriction.
Liberalisation means the freedom to participate in business without restriction.
You cannot talk of democracy and the same time you are talking about restriction. He pointed out that the liberalization would ensure the removal of government from buying and selling of petroleum products, adding that the policy will enhance efficiency and competition in the oil industry. It will not be the business of the government to determine the pricing of petroleum products because NNPC may no longer be the sole player in the market. Its monopoly will be broken by bringing in other participants. He said that liberalisation means opening up the supply and distribution channels.