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Deregulation of the Downstream Sector Premature - Opara From Ahamefula Ogbu in Abuja Deputy Speaker of the House of Representatives, Hon Austin Opara has described the implementation of the deregulation policy of the Federal Government as "hasty and premature," noting that all modalities, which were supposed to precede the exercise were not put in place before took off. Speaking in Sokoto, at the flag off of an interactive forum, Opara remarked that government ought to have ensured that all modalities for deregulation should have been on the ground before the commencement of the programme. He insisted that strike ought to be the last option, as it would have adverse effect on the economy. "Strike should be the last option. We are not comfortable with the situation on the ground. We are intervening between both sides and we are talking to them in a bid to find an amicable way out. With the benefit of hindsight, deregulation started before modalities were on ground. Deregulation is good but it does not mean incessant price increases", he said. According to Opara, the refineries ought to have started production while the marketers ought to have their imported products on the ground before the policy was implemented. Also speaking at the same occasion, the House Leader, Hon Abdul Ningi said there were plans to bring a Supplementary Budget to the House to give the Federal Government power to spend part of the excess crude yields for cushioning the rising prices of petroleum products in the country. On the fuel strike, Ningi said it was difficult for the Federal Government to intervene in cushioning the effects of the price increases due to the stringent clauses put in the 2004 budget which makes it an offence to spend any money belonging to the Federal Government without the approval of the National Assembly. Who Are We ? | About THISDAYOnLine.com | THISDAY People | Contact Us © Copyright 2000 Leaders & Company Limited

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