The Natural Oil and Gas Suppliers Association of Nigeria (NOGASA) has emphasized that the persistent issue of escalating fuel prices will endure until the Federal government effectively addresses the refinery problem. Mr. Benneth Korie, the national president of NOGASA, conveyed this perspective during a press interaction in Abuja on Monday.
Korie explained that the elevated costs of diesel and the challenges posed by substandard road conditions stand as the primary drivers behind the elevated fuel prices.
He elaborated that transporters are forced to procure diesel at exorbitant rates to fuel their trucks, leaving them with minimal profits. Furthermore, the association itself had to allocate over 50 million Naira to rectify road conditions.
“We are compelled to use diesel for transporting all petroleum products, including those conveyed by vessels. Additionally, diesel powers our filling stations and depots. These factors contribute significantly to the surging fuel costs,” Korie elaborated.
Pointing to the dilapidated state of roads across the nation, Korie underscored that the presence of sizable potholes was detrimental to the supply chain, causing damage to vehicles owned by association members.
Korie further urged the government to take prompt action regarding the fluctuating dollar exchange rates, cautioning that unless swift measures were taken, the prices of diesel, petrol, and other petroleum products would continue to rise.
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