By Emmanuel Daudu
The Natural Oil and Gas Suppliers Association of Nigeria, NOGASA, has called on the Federal Government to consider Fixing roads, refineries, and control of Exchange rate as sure way to having a stable fuel price in the country, stressing that if fixing roads is not urgently considered, it might lead to fuel scarcity because the roads are totally bad.
The association’s National President, Mr. Benneth Korie, who made the call in a briefing in Abuja, on Monday, said: “ The VAT that the government has imposed on diesel, today as we speak diesel is going from between N920 to N950. Diesel was like N600 before the tax on diesel.”
He further stated that the FIRS must give the downstream sector a tax holiday because the operators are already losing their seed money.
The NOGASA boss also lamented losses of funds. According to him, “We are suffering too much. We are losing money on daily basis.
“We are in trouble. So there is a need that the government comes into this matter urgently, otherwise we will have problem.”
Asked to confirm whether there will be PMS price hike, he said:”Definitely the price of PMS will go up in as much as dollars price goes up. If you are exchanging $1 for N950, it will go up.”
He however advised the federal government to deploy the Federal Inland Revenue Service (FIRS) to the upstream terminals where crude oil is loaded to collect the tax.
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