By Adaobi Rhema Oguejiofor
Oil marketers under the Natural Oil and Gas Suppliers Association of Nigeria (NOGASA) have called for urgent intervention by the Federal Government to control the fast increase in the pump price of diesel in order to prevent an imminent distribution crisis.
The marketers, who raised the alarm in a statement on Tuesday, said that they can no longer sustain the distribution of petrol and other products across the nation as the price of diesel used to power their trucks now sells for N1,100 per litre in many locations.
The President Association, Mr. Benneth Korie, stated that diesel has witnessed a constant hike in prices in recent months, adding that it is a development that has been worsened by marketers’ inability to secure cheap bank loans that will enable them to restock and sell petrol at the current pump price of N617 per litre.
Korie lamented that the rapidly rising diesel price was evidently causing hardships in the areas of transportation and commuting. He called on the government to intervene before the sector gets grounded and derails the anticipated growth.
The NOGASA President assured that finding lasting solutions to the constant hike in diesel prices will be a major issue that will be addressed by the Union at its annual general meeting (AGM), which is coming up in October.
In his own words, “NOGASA is worried about the ugly development and trying to understand why prices of diesel are going as high as N950 to N1,100 per litre in the market with a view to moderating the prices and shocks in the economy.”
