Leading professional services firm, PwC Nigeria, has underscored the transformative opportunity for Nigeria’s oil and gas downstream sector following the removal of fuel subsidy.
It made this assertion at a press conference held Wednesday in Lagos to discuss the outlook for the downstream sector post-subsidy era.
Commenting, Pedro Omontuemhen, Partner & Africa Oil and Gas Leader, PwC Nigeria, who was represented by Cyril Azobu, Partner & Mining Leader, noted that the policy allows companies to confront market dynamics.
“As the subsidy era comes to an end, Nigeria’s oil and gas downstream sector faces a transformative opportunity,” the official said.
“The subsidy shielded companies from the reality of their profits. Now, companies will confront the true market dynamics.
“In addition to navigating risks from global economic shifts, fluctuating energy prices, Nigeria’s macroeconomic conditions and forex regime, companies must embrace operational excellence…
