Petrol station attendant, not FG should determine petrol price – Atedo Peterside

OBINNA EZUGWU

Former Banker and Founder, Stanbic IBTC, Atedo Peterside has called for full deregulation of the downstream petroleum industry, arguing that the government should have not business deciding the price petrol stations should sell Premium Motor Spirit, otherwise called fuel.

The government, through the Petroleum Products Pricing Regulatory Agency, had on Wednesday, increased petroleum pump price to N151.56 per litre, with fuel stations across the country adjusting to between N159 and N162 per litre.

But, Peterside, who is also Founder and Chairman, Anap Business Jets Ltd, argued that such should not be the case.

He said the business of determining price should be that of marketers, the same way Telecom service providers decide the price of their services.

“Federal Government should get out of the business of making pronouncements on the price of petrol,” he wrote via his twitter handle, @AtedoPeterside.

“If you want to make a phone call it is the telecom operator that will tell you the tariff. It is the petrol station attendant that should tell you the price of petrol.”