Save Our Market From Total Shutdown- Oil Marketers Begs FG

Maryam Aminu

Petroleum Marketers in Nigeria under the aegis of the Natural Oil and Gas Suppliers Association of Nigeria (NAGOSA) have appealed to the federal government of Nigeria for speedy intervention to save its industry from total collapse

The National President Mr. Bennet Korie, made this plight at the National Executive Council (NEC) Meeting of NOGASA on Thursday 5th October, 2023 in Abuja.

The NOGASA boss  lamented that their businesses are about to crash due to the outstanding debts that were incurred before the removal of fuel subsidy by the Federal Government.

According to him, “We are suffering too much. We are losing our
businesses

“If you check most of the filing stations you will notice they are not selling because there is no money to buy PMS because we are short of money”

The President expressed worry that the worst hit in the business are the filling station owners who find it difficult to secure funds to procure products for their retail outlets and both the Independent and Major Marketers.

He stressed that “filling stations are shutting down in great numbers on a daily basis and dealers are going out of business with many more on the verge of bankruptcy because of their inability to secure funds to facilitate orders for their stations as banks are not willing to guarantee the release of funds to stakeholders

“Government must therefore urgently come to the aid of the Industry as quickly as possible to save it from an impending colossal collapse which will, in turn, result in a more devastating blow to the economy at large”, he added

“Lastly, to Nigerians, the state of our roads continues to make a very strong statement against the Government’s responsibility for infrastructural provision and maintenance. Petroleum product distribution is, and has been severely hampered by unmotorable roads.

“Therefore road networks and maintenance need to be positively impactful. This development is already a
waiting threat to the laudable CNG-driven transportation innovation of Mr. President and this time, conscious and practical solutions are therefore suggested to engage the local workforce
to speedily refurbish and or resuscitate bad roads across the country.”

Korie expressed with enthusiasm that the only realistic option out of this dire situation, for now, is for the government to urgently consider expediting the provision of ‘Emergency Palliative Measures for marketers such that fuels can be imported at the rate of at least N600 per dollar for the next three months while waiting for the promised reactivation of our refineries

The Association noted that the move will go a long way in cushioning the harsh effect of the high cost of importation and equally bring about reasonable relief to businesses and the cost of living generally.

They further tasked the government to remove bottlenecks in the areas of importation as well as clearing in NIMASA, NPA, DPR, and other Agencies that are involved with Dollar transactions for Marketers.

Speaking earlier, th Vice President of, the Independent Petroleum Marketers Association of Nigeria (IPMAN) John Keke Ocha disclosed that there is low-quality petrol in the market. Adding that the reason is because marketers are buying from different refineries

Proffering solutions, Keke Ocha noted that domestic refining and adherence to the country’s specifications is a sure way to ending the supply of low-quality fuel