Benneth Korie, National President of the Natural Oil and Gas Suppliers Association of Nigeria (NOGASA), has expressed confidence that Nigeria will experience full petrol availability by September when the Dangote and Port Harcourt refineries begin full operations.
Korie shared this optimism during a press briefing on Wednesday in Abuja, where he discussed major challenges facing the oil and gas industry.
He commended Aliko Dangote for his significant investment in Nigeria’s largest refinery, anticipating that it will boost supply and competition. Korie urged for the inclusion of various stakeholders, including NNPCL Trading and Retail, the Depots and Petroleum Products Marketers Association of Nigeria (DAPPMAN), the Independent Petroleum Marketers Association of Nigeria (IPMAN), the Petroleum Products Retail Outlet Owners Association of Nigeria (PETROAN), and NOGASA in the distribution process to ensure comprehensive petroleum availability.
Korie also expressed hope that Dangote’s refinery and the transition to Naira transactions would lower prices for Automated Gas Oil (AGO), potentially reducing transportation costs and market prices.
He called on the Federal Government to expedite the opening of the Port Harcourt refinery in September to address current shortages and enhance distribution.
In support of economic stability, Korie endorsed the President’s directive to sell crude oil in Naira and urged refineries to price refined products in Naira as well.
Addressing smuggling issues, Korie suggested redesigning distribution channels, improving security at border points, and utilizing logistics and surveillance drones to counter illegal activities.
He stressed the importance of boosting agriculture to combat inflation, recommending increased budget allocations, subsidizing inputs, and promoting modern farming techniques with the help of extension workers.
Korie also called for improvements in Nigeria’s transportation infrastructure, particularly railways for bulk cargo and roads, emphasizing the need for timely contractor payments and emergency repairs.
Concerned about multiple taxation, he advocated for reforms to foster a fairer business environment. Korie acknowledged the efforts of the Nigerian National Petroleum Regulatory Authority (NNPRA) and urged them to ensure fair pricing and availability of products, while also supporting the facilitation of Compressed Natural Gas (CNG) kits and conversion centers, which marketers are prepared to back.
“In conclusion, our joint efforts and timely actions in these areas will pave the way for a more stable and prosperous industry. I thank you for your attention and support as we collectively work towards these goals,” he said.
