LAGOS JUNE 14TH (URHOBOTODAY)-Peoples Democratic Party (PDP) Chieftain and former Delta State Gubernatorial aspirant Chief Sunny Onuesoke has thrown his weight behind  oil marketers move to end  Nigerian National Petroleum Company Limited (NNPCL) petrol monopoly.

Recall that the marketers who have accused NNPCL of tactically retaining monopoly of products importation to swing the market to its benefit are meeting in Abuja to engage the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA to seek ways in braking the monopoly of  the corporation in the oil sector.

Onuesoke who spoke to oil correspondent in Abuja about the move of the marketers condemned the import monopoly held by NNPCL,  noting that the situation was not helping the petrol market.

He advised that with the removal of fuel subsidy, the Government should allow healthy competition by granting licenses and access to foreign exchange marketers willing to get into the products importation business.

The PDP Chieftain who observed that the primary essence of removing subsidy is to free the market and make it competitive, argued  that allowing other  interested parties into the petroleum supply network, either through local refining or importation, will guarantee adequate production and supply and ultimately precipitate reasonable reductions in the high price that is being witnessed at this initial take off.

“ It is the believe of Nigerians  that the primary essence of removing subsidy is to free the market and make it competitive. This is by allowing other interested parties into the petroleum supply network. This is either by their engaging in importation or local refining. It’s the duty of government to ensure that all bottlenecks and frustrations in this regard are removed so that adequate productions and supplies will eventually precipitate reasonable reductions in the high price that is being witnessed at this initial take off. To achieve total subsidy removal the monopoly of NNPCL on oil supply should be broken,” Onuesoke stated.

He maintained that if Government  seeks to fully deregulate the market, then it should  be ready to allow competition and create a level playing field, stressing  that it is obnoxious for government to  allow NNPCL to access foreign exchange at official exchange rate and expect independent or major marketers to source forex from the parallel market.