Natural Oil and Gas Suppliers’ Association of Nigeria (NOGASA), has disclosed measures Nigeria should adopt to save the country’s downstream subsector from ruin.
These measures include rebuilding and revitalizing the Nigeria’s four refineries, provision of 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.
National President of NOGASA, Mr. Benneth Korie, gave the measures in a communique at the organisation’s 2nd annual National Executive Council (NEC) and Stakeholders meeting in Abuja.
The communique read:”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 & affects petroleum product supply and distribution chain
“The association urge the national assembly relevant sectors to enact a bill for establishment of energy bank for easy transaction in petroleum products and other and 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 appeal FIRS to use their discretion to apply relief on petroleum product.
“That the association urge MNDPR to use NOGASA as the umbellera body oll and gas association in Nigeria. Thereby using the association to collaborate in licensing petroleum product in Nigeria .Government should encourage establishment of modular and private refineries such as Dangote, Watersmith” he said.