July 25, 2024
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OIL & GAS

NOGASA Urges Nigerian Government to Regulate Price of Diesel

The Nigerian Gas and Oil Suppliers Association (NAGOSA) has urged the federal government of Nigeria, to regulate the price of Automotive Gas Oil (AGO), popularly called diesel. This was stated on Tuesday, by the National President of NAGOSA, Bennett Korie.  He attributed the hike in the pump price of Premium Motor Spirit (PMS) across the country to the high cost of diesel while attributing diesel cost to naira devaluation.

“Fix that diesel problem, and then PMS will be stable. If the government wants to be fair and wants to do the deregulation properly, then diesel too should go the same way PMS is going.

Heavens will not fall if you sell AGO N650 per litre. The same magic they have in PMS, the government should apply it on AGO, and then you would see things ease,” he said in Abuja.

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Korie, blamed the Nigeria Ports Authority and the Nigerian Maritime and Administration and Safety Agency (NIMASA) for accepting and demanding payment in dollars despite the country’s forex woes, which he calls on the government to regulate.

He urged the government to implement the N750/$ 2024 budget exchange rate benchmark as its official exchange rate.

He further called on the government to make the business environment a favourable one for petrol marketers, by addressing the challenges faced.

 

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