The Association of Oil Marketing Companies (AOMC) is calling on government to introduce a fair and balanced mechanism to distribute the fuel brought under the Gold For Oil Policy to avoid any form of discrimination and ensure fairness to all licensed parties.
The association noted that the current mechanism allows for arbitrary selection of BIDECs, and by extension OMCs, to benefit from the programme.
AOMC in a statement also noted that the fact that this mechanism is intended to force players to reduce prices at the pumps creates some form of arbitrariness which will eventually distort the market and create an uneven playing field.
This comes on the back of the government’s revelation that only a few OMCs reduced the prices of fuel at the pumps when the first consignment was delivered.
A statement issued by the Association notes that a discussion of the implementation of this innovation and any others in the industry with all stakeholders will go a long way ensure the success of the program.
Read the full statement below:
