High exchange rate cause of fuel scarcity – NOGASA

The Natural oil and Gas Suppliers Association (NOGASA) has warned that except the federal government through the Central Bank of Nigeria provide a 5-month emergency window that would enable importers of gas access the dollars at official rate and engage in massive importation to ease the queues being experienced in the Federal Capital Territory and its environs.

National President of NOGASA, Bennet Korie, who made this known to journalists Thursday as part of the Associations’ resolution, added that failure of the government to act quickly will lead to loss of jobs.

This is just as he urged the government to fix the four refineries as it will end importation of fuel.

According to Korie, as long as the dollar is high and diesel importers still continue to go to the black market to get dollars, there won’t be an improvement in the situation.

Presently, one litre of diesel is sold for N800.

Korie said: “Just make dollars available at an official rate. As long as they continue to buy at the black market the price will not come down.