The Natural Oil and Gas Suppliers Association of Nigeria, has called on President Bola Tinubu to declare a state of emergency on the country’s refineries in order to stabilize the economy.
The President of NOGASA, Benneth Korie, made the call on Tuesday during a chat with newsmen in Abuja, while assessing current developments in the oil and gas sector.
He explained that declaring a state of emergency on the nation’s refineries would help to revamp the economy.
“It is very important that the Nigerian government declares a state of emergency on our refineries. It will help in stabilizing distribution price, not just halting importation,” he said.
Korie declared that Tinubu’s government should do whatever is possible to ensure the refineries work and also stabilize the naira against the dollar.
He noted that this was part of the reasons the refineries were yet to work.
“Whatever it will take for the refineries to work, let them work.
“So, the answer to all these increments is for our refineries to start working optimally, and the products should be sold in naira to marketers,” he added.
The NOGASA boss equally called for the reintroduction of bridging claim payment to marketers since the subsidy removal was not yielding any positive result.
He expressed concerns over the government’s projection in the 2024 how budget would be N750 to a dollar, while the black market price had moved close to N2,000.
