The Arewa Consultative Forum (ACF) has urged the Federal Government to not only to provide palliative measures that will cushion the effect of the sudden withdrawal of the subsidy regime but also channel the gains of the deregulation into infrastructural development.

This is contained in a communique issued on Wednesday, after a meeting of the National Working Committee (NWC) of ACF presided over by presided over by the Chairman, IGP Alhaji Ibrahim Ahmadu Coomassie (rtd). The well attended monthly meeting was held on Tuesday at ACF’s headquarters in Kaduna.

ACF wholly supported the total deregulation of the downstream petroleum sector, which it said will promote competition and private participation.

The communiqué said: “That Nigerians have in the last few months suffered untold hardship due to scarcity of petroleum products (especially petrol) which was attributed to low capacity production by the refineries, vandalisation of pipeline facilities and foreign exchange problem which has affected the capacity of the Independent Marketers to import petrol and sell at the control price.

“That the Federal Government's new fuel pricing and supply framework which allows independent marketers and any Nigerian entity to source their own foreign exchange and import petrol is a welcome progressive policy.

“ACF wholly supports the total deregulation of the downstream petroleum sector which will promote competition and private participation. It however, urges the Federal Government to not only provide palliative measures that will cushion the effect of the sudden withdrawal of the subsidy regime but also channel the gains of the deregulation into infrastructural development.

“ACF therefore appeals to all Nigerians to be patient with, and have faith in President Muhammadu Buhari-led government, as our best hope to prosperity and greatness,” ACF said

•Photo shows ACF Chairman, Ibrahim Coomassie.

Update news