The Rivers Entrepreneurs and investment Forum says the deregulation of the down stream sector by the Federal Government is ill timed and as such will be resisted by the masses.
The president of Rivers Entrepreneur and Investment Forum Ibifuro Bob Manual told correspondent Anita Ogona that the federal government dragged the issues of deregulation from when crude oil prices globally went down to apply the deregulation policy but choose the wrong timing when the masses are already overwhelmed with the harsh realities of post covid19 trauma to begin to make adjustments.
He said the Mases did not enjoy the oil windfall when the oil was as low as 20 Naira per liter and as such will resists attempts to buy oil at a high price of 162 naira per litter
The president of Rivers Investment Forum Ibifiri Bob Manuel also hinted that the high amount of money paid by federal government for Subsidy would make difficult for FG to fully come out Recession. he said to ”continue to maintain such huge funds on Subsidy will be difficult for the country to continue to apply funds to other developmental projects and as such make the navigation out of Recession impossible.