The Lagos Chamber of Commerce and Industry (LCCI) on Sunday called on the incoming administration at the federal level to deregulate the oil and gas downstream sector.
This is contained in a statement issued and signed in Lagos by the President of the chamber, Mr Remi Bello, on the current fuel scarcity and power supply situation in the country.
It said that deregulation of the sector would help to provide enduring solution to the recurring problem of scarcity of petroleum products in the country.
The chamber identified other challenges, apart from fuel scarcity, to include corruption in the subsidy regime, collapse of refineries, dwindling investment in the downstream sector and loss of jobs.
According to LCCI, options available to the incoming administration in this matter are very limited.
It stated that the current regime of subsidy and government’s direct involvement in the operations of oil and gas sector should be discontinued.
The chamber said that such step would help the sector and lead to normalcy in the nation’s the economy.
LCCI said that the step would also attract private capital, boost investments and create jobs.
“We appeal to the labour unions and the citizens to give the reform of the oil and gas sector a chance.
“The current model of managing the sector has done a colossal damage to the Nigerian economy.
“It is in the overall interest of the economy and the citizens that government should quickly deregulate the sector”, the chamber said.
The group said that the government needed to demonstrate accountability to the people through active engagement with stakeholders in the petroleum industry to bring an end to the crisis.
“The LCCI acknowledges that the current administration is winding down, but the impression should not be created that governance has been abandoned.
“The administration has responsibility for the management of government business till the very last day of its tenure on May 29.
“We call for an urgent intervention by President Goodluck Jonathan to bring a halt to the imminent collapse of economic and social life in the country”, the chamber said. (NAN)
Several Injured As Thugs Attack #EndSARS Protesters, Governor Oyetola In Osun
Some of the vehicles in the Governor’s convoy were also destroyed by the thugs but the Governor himself was evacuated to safety by his security team.
As the convoy was leaving the protest venue, some of the youths continued to stone his vehicles.
While the protest was disrupted, Governor Oyetola assured the injured victims that the government would be responsible for their medical bills.
#EndSARS: Sanwo-Olu Constitutes Panel Of Enquiry
In a bid to quell the #EndSARS protest which is spreading like a raging inferno across the country, Babajide Sanwo-Olu, the Governor of Lagos State has set up a panel of inquiry and restitution for victims of SARS.
This was announced in a statewide broadcast on Thursday.
The panel will be a 7-man panel which will ensure that all those with verifiable cases of SARS brutality or fatality receive compensation.
The Panel will be chaired by retired Justice Doris Okuwobi, while members are Ebun Adegboruwa, SAN (representing the Civil Society), Taiwo Lakanu (a retired Deputy Inspector General of Police), Patience Udoh (representing the Civil Society); Segun Awosanya aka Segalink (Human Rights Activist).
Others are Olutoyin Odusanya (Director, Citizens Mediation Center), a rep/member of the youth-led protest, and a representative of the Human Rights Commission.
There will be a help desk for the complaints and petitions to the panel.
Governor Seyi Makinde Loses 81-Yr-Old Mother
Abigail Makinde, the mother of the governor of Oyo State, Seyi Makinde, is dead.
The Chief Press Secretary to Mr Makinde, Taiwo Adisa, however, told newsmen that the family will soon make an official statement on the death of the deceased.
He said: “Yes. The family will make an official statement.
“The family will soon make an official statement. In the next few minutes, the family will make an official statement, in few minutes.”
It was gathered that Mr Makinde lost his father, Olatunbosun Makinde, a few years ago.
It was learnt that Mrs Makinde died in the early hours of Thursday.
She died at the age of 81.
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