The Petroleum Products Pricing Regulatory Agency (PPPRA) was established to superintend the deregulation process and ensure that participants in the downstream sector operate within acceptable limits. With competition, there will be no monopoly. Competition brings out the best in terms of creative response to issues and services provided by stakeholders.
Within two years, Nigeria’s teledensity had tripled. Can you imagine the improved services private airlines have brought to the airline business in Nigeria, the kind of creativity and improved pleasurable hours private broadcasting organizations have brought to the business of broadcasting in Nigeria? Such is the power of competition. Now that the downstream sector has been opened up to competition, soon shortage of products would be history and the hidden potentials of product derivatives and job creation would begin to manifest.