Kerosene-queue-in-Dutse-300x173Stakeholders in the oil and gas sector have called on the federal government to remove kerosene subsidy to allow for massive investment in the sector.

They argued that currently, subsidy regime festers corruption rather than allow for investment in the sector.

The industry players raised the concern at the annual conference of the Nigerian Liquefied Petroleum Gas Association (NLPGA) held in Lagos.

The President, NLGPA, Dayo Adesina, said that the subsidy when removed would create a level playing ground for LPG to thrive in the country.

He noted that kerosene consumption has done more harm to the nation than good, as it contributes to carbon emission and also drains the national purse through subsidy.

Also speaking, the Managing Director, Longview Gas Limited, Femi Fanoiki, who spoke on challenges of operating in the LPG sector, also canvassed for the removal of kerosene subsidy.

According to him, Nigeria needs to switch to clean energy to earn from the carbon credit set aside by the United Nations.
Fanoiki stressed that government should also strengthen the regulators and ensure that best practices become the norm in the industry.


[Daily Trust]