Petrol marketers on Tuesday called for immediate intervention by the Federal Government to urgently address the increase in the pump price of diesel to prevent imminent distribution crisis.
Under the aegis of Natural Oil and Gas Suppliers’ Association of Nigeria (NOGASA), the marketers said they can no longer sustain the distribution of petrol and other products nationwide as the price of diesel used to power their trucks now sells for N1,100/litre in many locations.
Benneth Korie, NOGASA’s president in a statement said the rapid increase in diesel prices has made it difficult for suppliers to access products and loans from commercial banks for doing their business.
“These rising prices are also evidently causing veritable hardships to haulage transportation and commuters alike,” he said.
“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,” the statement added.
He further assured that finding lasting solution to the incessant hike in diesel price will be a major issue that will be addressed by the union at its annual general meeting (AGM) coming up in October.
via: Information Nigeria