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NOGASA decries increase in market prices of AGO

By Linus Aleke, Abuja
The Natural Oil and Gas Suppliers’ Association of Nigeria (NOGASA), has condemned in strong terms, the incessant increases in the price of AGO in the market.

In a statement in Abuja, the National President of (NOGASA), Mr. Benneth Korie, said, the rapid increases in prices have made it difficult for suppliers to access products and loans from commercial banks for doing their business.

These rising prices, he said, are also evidently causing veritable hardships, for haulage transportation, and commuters alike.

NOGASA called on the Government to intervene before it will kill the sector and derail the anticipated growth.

According to Korie “It is working towards achieving, as this, will be counter-productive to the aspirations of our overall national political economy”.

The National President said the meeting of the association slated in October will take adequate steps towards finding lasting solutions to the problem.

NOGASA, he added is worried about the ugly development and is trying to understand why prices of Diesel are going as high as N950 to N1100 per litre as of today in the market to moderate the prices and shocks in the economy.

“However, the price of crude oil as of today is 95 dollars per barrel and the dollar exchange is racing towards #1000 per dollar. Consequently, the Nigerian refineries should be given emergency attention by the government to forestall the nose-diving of the economy.

The Natural Oil and Gas Suppliers Association of Nigeria has been playing a pivotal role in the oil and gas industry and will continue to ensure the availability of adequate supplies of products to Nigerians”.

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He noted that they will continue to deliver on their mandate as they make progress in the oil and Gas Industry.

NOGASA, a premiere organisation of legitimate organised and proficient suppliers, dealers, stakeholders and practitioners in the nation’s oil and gas sector distribution chain, will continue to provide quality services for all.

He counselled that suppliers should go about their respective business until proper resolution is taken at the meeting.

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