Association advises Dangote, refiners to sell in naira

The Natural Oil and Gas Suppliers Association of Nigeria (NOGASA) has advised the Dangote Refinery and Petrochemicals and other modular refineries in the country to sell refined products to oil marketers in naira.

The association said that “this isimperative as the refiners will also be getting the crude in naira.”.

NOGASA National President Benneth Korie made this appeal while briefing newsmen on Wednesday in Abuja.

Supreme News recalls that President Bola Tinubu recently directed the Nigerian National Petroleum Company Ltd. (NNPCL) to sell crude oil to Dangote and other modular refineries in the country’s currency.

“I also want to express our support for the president’s directive to sell crude oil in naira.

“We hope that our refineries will reciprocate by selling refined products in naira, thus stabilising the market”, he said.

Korie said that to ensure a balanced distribution, the Dangote’s refined products should be made available to a broader range of stakeholders.

He listed the stakeholders as the NNPC Trading, NNPC Retail, Depot, and Petroleum Products Marketers Association of Nigeria (DAPPMAN), Major Oil Marketers Association of Nigeria (MOMAN), and Independent Petroleum Marketers Association of Nigeria (IPMAN).

He included others such as the Petroleum Products Retail Outlet Owners Association of Nigeria (PETROAN) and NOGASA.

This inclusivity, according to him, would facilitate sustainable and widespread distribution across the country.

He urged the Federal Government to expedite the commencement of the Port Harcourt refinery slated for September to alleviate the current shortages and ensure that the products were distributed among the same stakeholders.

He called for the reduction in the price of Automotive Gas Oil.

diesel — to lower transportation costs and reduce the price of petroleum products.

“With Dangote’s refinery production and crude oil transactions in naira, we expect a reduction in diesel price.

“NNPC Ltd. should leverage its shares in Dangote’s refinery to drive down these costs, which will lower transportation expenses and reduce market prices,"  he said.

On the issue of smuggling, he said, there was the need to redesign distribution channels to prevent illegal exportation of petroleum products.

Korie, while explaining that “roads constitute 45 percent of the delay in the delivery of petroleum products,"  urged the government to improve the transportation network.

He advised the government to expand and revamp railways for bulk cargo to enhance logistics.

He also urged the federal, state, and local governments to discourage the multiple taxation on the nation’s highways.

On inflation, he urged the government at all levels to prioritise agriculture by making farming more attractive and profitable.

According to him, this can be done by subsidising agricultural inputs and equipment to address public apprehension over rising costs.

“Extension workers should also be deployed to educate farmers on modern techniques such as irrigation and fumigation,” he said.