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The Energy Regulatory Commission is moving to intensify the policing of the lubricants businesses, an essential product category in petroleum sub-sector but one that has largely operated in a laissez faire manner over the years.
The energy industry regulator on Tthursday published the Draft Energy (Lubricants Business Licensing) Regulations 2013 that are expected to mainstream the industry as well as run out of market rogue dealers that have sold sub-standard products.
Increased regulation for the industry is on the back of huge amounts of money that the Government is losing in tax revenues due to proliferation of illegal trade as well as loss of market for the legit traders and consumer exposure to sub-standard products. ERC invited industry players to submit their views on the proposed regulations in the next forty days. “The ERC hereby invites members of the public to submit written comments within 40 days... on the proposed regulations,” said ERC in a gazette notice released on Friday.
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