What Is Deregulation?

Deregulation is opening up of the downstream sector of the Petroleum Industry to competition among all players in the industry. It means allowing every player the opportunity to refine or import petroleum products for use in the country in-so-far-as the products so refined or imported meet quality specifications. It involves removal of entry barrier into the supply and distribution of petroleum products.

Under the policy of Deregulation, no qualified and competent person should be prevented from participating just as none should be prevented from going under by any offer of official assistance in whatever form, it is free entry, free exit.