The acting Director-General, Manufacturing Association of Nigeria, Mr Ambrose Oruche has said the poor and small businesses that depended on the PMS to power their generators would be hard hit.
He said this in an interview with newsmen adding that it was important for the government to introduce measures to cushion the effect of the deregulation in the sector.
Oruche stated, “To reduce the impact, government should do more in ensuring power generation is big and distribution is efficient, and ensure that people get at least 20 hours of light in a day to reduce dependence on the PMS.
“Government should find a way of compensating the SMEs to stay in business through tax rebates or grants to remain in business and stay competitive.”
Odogwublog.com earlier reported that the pump price of the Premium Motor Spirit, also known as petrol, hit N160 per litre as the Nigerian National Petroleum Corporation has increased the price at which it sells the product to marketers from N138.62 per litre to N147.67.