Chairman of NOGASA, Bennett Okorie, and other Executive members during the NEC meeting in Abuja
By Ignatius Ushie
Natural Oil and Gas Suppliers’ Association of Nigeria (NOGASA) has announced plans to take the growing crisis facing the petroleum industry, which has resulted in acute scarcity, high cost of diesel and Petroleum Motor Spirit (PMS) otherwise known as fuel to President Muhammadu Buhari.
In a communique read to journalists by the National President of NOGASA, Mr. Benneth Korie, at the 2nd annual National Executive Council (NEC) of NOGASA, and Stakeholders meeting in Abuja, it was resolved to seek an audience with Mr. President.
Mr. Korie reeled out a number of interventions required to save the downstream subsector of the nation’s oil and gas industry from total collapse, these interventions which includes but not limited to the following, are rebuilding and revitalizing the Nigeria’s four refineries, special interventions through provision of dollars to petrol importers by CBN, streamlining taxes to avoid multiple taxation by Federal Inland Revenue Services (FIRS), establishment of Energy Bank through an Act of the National Assembly, among others.
According to him, “NEC/Delegate and stakeholders resolves as follows: That the association should pay a courtesy visit to the president of Federal Republic of Nigeria to outline some of the issues below and the way forward.
“Association urge the national assembly to review the policy of taxation (i.e. VAT) as it affects petroleum product supply and distribution chain
“The association urge the national assembly to enact a law for establishment of energy bank for easy transaction in petroleum products and other gas sector.
“That federal government of Nigeria should fix the four(4) refineries in Nigeria in a view to reduce the dependency on importation of refine product, to ease the high cost of petroleum product Nigeria.
“That the association through its business arm should be given all necessary assistance by CBN to import AGO and other products into the country at competitive price.
“The association appeal to FIRS to ensure that suppliers are given a tax relief to avert multiple taxation and refund where necessary. The association appealed to FIRS to use their discretion to apply relief on petroleum product.
“The association urge MNDPR to use NOGASA as the umbellera body of Oil and Gas associations in Nigeria.
“Government should encourage establishment of modular and private refineries such as Dangote, Watersmith”, Okorie stated.