It is a truism to say that the petroleum industry world over is a fast changing one including the downstream sector and as a result,needs to be reformed for accountability and service delivery to the people, which in the final analysis will bring progress and development to our nation, the giant of Africa. Every opportunity occasioned by delays, should be used to re-evaluate and re-examine plans and programmes and their contents.There should be no embarrassment for making meaningful changes or modifications, especially if they are influenced by new economic or technological realities which will also lead to economic transformation of the economy for the betterment of all Nigerians whether from oil producing states, communities or not.The responsibility for propelling economic development is clearly that of government. However, the necessary capital inputs cannot be government alone. In this regard therefore, only the right economic climate will encourage foreign and indigenous private capital to offer to participate.On the issue of propelling economic development, the government must clearly articulate and disseminate new directives it is mapping out. In the petroleum industry sector, people have lived for so long with certain situations that they assume it cannot be altered.There is therefore the need for changes in policies and strategies in the sector which must be widely disseminated using relevant media, print and broadcast inclusive as well as making use of community leaders, opinion leaders and moulders. In order to make meaningful impact, emphasis must change from merely satisfying domestic consumption to using part of such efforts in pursuing export.One can boldly and proudly say that the government is already doing a lot. It must do more if the economy is to truly turn around and begin to really grow in the right direction. It is abundantly clear that the downstream sector of the petroleum industry has the potential to make meaningful impact on that effort.Furthermore, any meaningful development of any kind usually takes place within an environment which is conducive to it. This is so in the case of economic development and particularly in high risk sectors requiring intensive capital inputs.It is for this reason that any talk of meaningful development in the downstream sector of the petroleum industry inNigeria must first address the issue of the climate in which it has attempted to thrive so that appropriate measures may be taken to enhance or correct it. For the benefits of the mass audience includingtalakawas, deregulation simply put is the liberalization of logistics and pricing of goods and services.It has to do with the removal of the monopolistic control which should lead to the creation of a regime of level playing ground giving rise to competition which ultimately should lead to better, efficient and effective services to customers at most beneficial rates. It is crystal clear that any mention of deregulation in the petroleum industry often attracts so much apprehension and emotions.This is so, as it becomes the tradition to associate deregulation with upward movements of the prices of petroleum products without corresponding improvement in the services to the consumers.Deregulation will lead to massive investment and expansion of product reception and storage facilities. A cursory look at the refineries will reveal at a glance that the first oil refinery built in the country is located outside Port Harcourt in the southern part of the country known today as the south-south region, and it started operations in 1965 with a capacity of 38,000 barrels per day (bpd).In addition, three other refineries were built to take care of the expanding domestic needs for the last thirty years. In the 1990's based on population explosion, there were more demand for gas outweighing supply. In view of massive corruption, smuggling, mismanagement, wrong appointments and postings, the refineries operated at less than optimal levels.Turn Around Maintenance (TAM) was executed on the refineries by non technocrats or professionals, based on the unjust lay-off of professionals within the refineries in an attempt to talk of the federal character principle that is, equal representation of states without taking into consideration ones level of training and professionalism. As a result, we have what should be termed 'killed the refineries and go into shady deal in the importation of petroleum products'. What a dangerous dichotomy indeed! This has made the desired result not to be achieved.Consequently, the NNPC had to import heavily from abroad in this connection cutting actual revenue derived from oil exports.
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